Polymarket Confirms Token Launch, but U.S. App Takes Priority

“Why rush a token if you need to prioritize the US app? We’ve been dying for this app for the past five years,” Modabber said in an interview. “A lot has happened because of this, you know, because there’s regulatory [issues] and whatnot.”

The app, which will allow U.S. users to access Polymarket’s onchain prediction services in a compliant environment, has been in development for several years amid tightening U.S. oversight of crypto-linked financial products. Both Polymarket and rival platform Kalshi have gained mainstream traction since 2024, drawing retail users who had never previously traded digital assets.

Investor Takeaway

Funding Round and Expansion Plans

Polymarket is in talks to raise new funding that could value the company at $15 billion, people familiar with the matter said. The firm has been signing partnerships with U.S. sports organizations including the National Hockey League (NHL) and several sports book operators as it expands its data and trading infrastructure.

In August, Polymarket reached an agreement with DraftKings to provide clearinghouse services for sports-related prediction contracts. The move gives DraftKings access to onchain verification tools and collateral management systems that ensure sufficient liquidity for high-volume trading. Sports betting firms typically lack the infrastructure to process decentralized trades or manage onchain funds at scale.

Founder Shayne Coplan appeared alongside ICE chief executive Jeffrey Sprecher following the $2 billion deal in October, signaling closer ties between the prediction market and traditional platforms. ICE’s involvement has been interpreted by market participants as an endorsement of the sector’s institutional potential.

Kalshi and Market Competition

Polymarket’s closest competitor, Kalshi, is reportedly viewking to raise $300 million to expand its operations to as many as 140 jurisdictions. Both companies have capitalized on rising public interest in event-driven trading, a category that bridges prediction markets and financial derivatives. Trading activity on prediction platforms surged by more than 565% in the third quarter of 2024, according to industry data.

The boom coincided with the 2024 U.S. election cycle, which saw tens of millions of dollars in volume across political, economic, and entertainment contracts. Analysts say prediction markets have become an alternative indicator for sentiment, often outperforming polling models in forecasting outcomes.

Investor Takeaway

Outlook for Polymarket

Polymarket’s token, once launched, is expected to support governance, liquidity incentives, and platform rewards, although no release date has been confirmed. Modabber said the team’s immediate focus remains compliance and user growth in the United States. The ICE investment provides both capital and regulatory cover to pursue long-term integration with established financial institutions.

The company’s expansion beyond crypto-native audiences reflects a broader shift in how retail users engage with financial predictions. Industry executives argue that the transparency and market-based pricing of prediction contracts offer a more accurate measure of public expectations than conventional polls. “Prediction markets are becoming a public utility,” one investor said, describing them as “a more transparent and efficient way to aggregate information.”

As the regulatory landscape stabilizes, Polymarket’s token and U.S. app could serve as a model for merging decentralized finance infrastructure with compliant retail access. The firm’s next funding round and potential $15 billion valuation will likely depend on how rapidly it can deliver both.