Polymarket’s Chief Marketing Officer, Matthew Modabber, confirmed that the platform aims to launch a token soon, though the primary focus is on the US market. In October, the prediction market platform secured a $2 billion investment from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, reaching a valuation of $10 billion.

“Why rush a token if you need to prioritize the US app? We’ve been dying for this app for the past five years. A lot has happened because of this, you know, because there are regulatory issues and whatnot.”
Translation: “Why hurry a token launch when the US application is a priority? We have been waiting for this app for five years. A lot has transpired due to regulatory challenges and such.”

Prediction markets such as Polymarket and its competitor Kalshi gained traction in 2024, attracting non-crypto enthusiasts to digital assets and blockchain technology.

The prediction market’s valuation is expected to rise as Polymarket engages in negotiations for additional funding, potentially valuing it at $15 billion while forming partnerships with sports organizations like the NHL and sports betting operators. Recently, Polymarket signed a deal with DraftKings, a renowned sports betting platform, to deliver clearinghouse services.

Furthermore, Kalshi may seek to raise $300 million for expansion into new markets across 140 countries. During the 2024 US elections, prediction markets experienced a trading volume surge of over 565% in Q3 2024, despite ongoing regulatory hurdles.

Executives in the crypto sector assert that prediction markets serve as a more precise measure of outcomes compared to traditional polling methods and promote public access to information.