Polymarket’s Chief Marketing Officer, Matthew Modabber, confirmed that while the platform will eventually introduce its own token, the priority remains launching the US-facing Polymarket App. Following a substantial $2 billion investment from Intercontinental Exchange (ICE), valued at $10 billion, the company is focused on navigating regulatory challenges and bringing its app to the US market first. “Why rush a token if you need to prioritize the US app? We’ve been waiting for this app for five years,” Modabber explained.
Prediction markets including Polymarket and its competitor Kalshi gained significant traction in 2024, attracting many newcomers to digital assets and blockchain technology. Polymarket is also in discussions for additional funding that could raise its valuation to $15 billion. The platform continues to form key partnerships, such as with the National Hockey League (NHL) and sports betting operators like DraftKings, enhancing its infrastructure to support high-volume, liquid trading.
As the prediction market space expands globally—Kalshi is reportedly seeking $300 million to enter up to 140 countries—the sector shows remarkable growth despite regulatory hurdles. Trading volume surged by over 565% during Q3 2024, as prediction markets increasingly serve as trusted indicators for outcomes beyond traditional polling. Industry leaders view these markets as democratizing access to information and a valuable public good.
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