Polymarket announces engine and token upgrade

The prediction market platform Polymarket on April 6 announced a rebuild of its trading engine, smart contract updates, and a transition to its own collateral token Polymarket USD, backed 1:1 in USDC.

Polymarket infrastructure update

Polymarket is upgrading key components of the platform, including the trading engine and smart contracts.

Transition to a new token

As part of the changes, the platform is introducing its own collateral token Polymarket USD, backed at a 1:1 ratio to USDC.

The token will be used for prediction markets and internal platform settlements.

Migration timeline

The transition to the updated system is expected to take two to three weeks.

During this period, users and infrastructure will be gradually migrated to the new setup.