Polymarket Signals Token Launch and Infrastructure Overhaul
The world's largest prediction market is making aggressive moves on both legal and technical fronts today. According to a report by Decrypt, Polymarket has filed trademark applications for "POLY" and "$POLY," specifically tying them to digital tokens and cryptocurrency trading services. This development suggests the platform may be preparing for a native token launch despite ongoing legal scrutiny.
Simultaneously, the platform is upgrading its settlement infrastructure. Cointelegraph reports that Polymarket has partnered with Circle to migrate from bridged USDC on Polygon to native USDC. This shift is designed to reduce reliance on cross-chain bridges, enhancing security and liquidity as the platform continues to scale.
Kalshi Fortifies Oversight Amid $170M Super Bowl Frenzy
As the Super Bowl approaches, regulated exchange Kalshi is seeing unprecedented activity, with nearly $170 million already wagered on the event. To manage this volume and address regulatory concerns, Kalshi has established an independent surveillance committee. This move is intended to boost market integrity as regulators and Congress increase their scrutiny of the sector. For traders tracking these high-volume events, predictionmarketstools.com offers essential data on market liquidity and sentiment shifts.
Regulatory Wins and Industry Pivots
The regulatory landscape for prediction markets shifted significantly this week. In a major reversal, the CFTC withdrew a Biden-era proposal that sought to ban event contracts on sports and political contests. CFTC Chair Mike Selig criticized the original proposal as a "frolic into merit regulation," signaling a more open environment for these markets moving forward.
Judicial rulings are also favoring the industry. A Nevada judge recently denied a request by state regulators to halt Coinbase's prediction market products, allowing the exchange to continue operations while it argues for federal preemption.
These regulatory tailwinds are reshaping corporate strategies. CoinDesk reports that Gemini is exiting the U.K., EU, and Australian markets to cut staff by 25% and pivot its focus specifically toward the U.S. market and the burgeoning prediction market sector.