Polymarket Exec Confirms Token, Airdrop—After Prediction Market Returns to US

Core Insights - Polymarket is preparing to launch a token and an airdrop for its prediction market, focusing on ensuring the token has "true utility" and "longevity" before rollout [1] - The immediate priority for Polymarket is to relaunch its product in the U.S. after a CFTC settlement effectively banned it in 2022 [1][2] - The platform has continued to grow despite challenges, becoming a trusted source for sentiment in U.S. elections [3] Company Developments - Polymarket was fined $1.2 million by the CFTC in 2022 for alleged violations, which led to its ban in the U.S. [2] - The company acquired derivatives exchange QCX in July, which received a no-action letter from the CFTC in September, allowing Polymarket to prepare for its U.S. relaunch [4] - CEO Shayne Coplan's home was raided by the FBI, with electronics seized, indicating ongoing scrutiny of the company [3] Token Launch Plans - The POLY token has been anticipated for some time, with indications that it will be launched after the U.S. reentry is secured [5] - Investors were reported to be offered token warrants in July, allowing them the right to purchase the POLY token upon its release [5] - Users on the platform have been engaging in farming strategies for a potential airdrop, with methods becoming more sophisticated over time [5]