Polymarket: Crypto platform confirms token launch and airdrop
- The crypto prediction platform Polymarket plans to launch its own token (POLY). Chief Marketing Officer Matthew Modabber confirmed this in the podcast “Against the Odds” on X.
- In addition to the token launch, an airdrop is also planned. However, the Polymarket CMO left open how exactly the distribution will be structured.
- There are rumors circulating on X that the trading volume on Polymarket could be the deciding factor for the airdrop amount.
- The platform's founder, Shayne Coplan, also fueled the rumors about the token and airdrop at the beginning of the month.
- Exactly when the launch might take place remains unclear. Modabber stated: “We can launch the token at any time.”
- However, the launch shouldn't be expected anytime soon. The platform initially plans to focus on releasing its own app in the US. After that, however, the focus will likely shift to the token and the associated airdrop, according to the Polymarket CMO.
- Crypto-based prediction markets in general have experienced strong growth this year. According to data from The Block, over 33,000 new bets were opened on Polymarket in September alone—a record number.
- Meanwhile, traditional financial markets are also taking notice of the newcomers. The parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), announced a $2 billion investment in Polymarket at the beginning of October.
- The platform also recently celebrated a mega deal with the NHL ice hockey league.
- Basically, you can bet on pretty much anything on prediction markets: sports, finance, pop culture, politics, or even the Bitcoin price. You can read more about how Polymarket works here: Polymarket: How investors make money with crypto bets
Sources
- Interview with Matthew Modabber
- Polymarket betting data on The Block
Eine Quelle: btc-echo.de
