Polymarket Confirms POLY Token and Airdrop, Prioritizes U.S. Relaunch

Prediction market platform Polymarket is preparing to introduce its long-awaited POLY token alongside an airdrop, signaling a new phase of growth as investor interest and trading activity surge.

Chief Marketing Officer Matthew Modabber revealed the plans during an interview on the Degenz Live podcast, emphasizing that the team aims to create a token with “real utility and longevity,” rather than rushing its release. Founder Shayne Coplan had hinted earlier this month that a token launch was on the horizon.

Focus on U.S. Launch Before Token Rollout

Despite growing hype, the company’s immediate focus remains on its U.S. relaunch. Polymarket received approval to resume operations in the country after pausing in 2022 due to regulatory uncertainty. “There’s no need to rush a token when the U.S. rollout comes first,” Modabber said, adding that the token will follow once the domestic platform is fully operational.

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The confirmation has fueled speculation about the upcoming airdrop, with many suggesting that eligibility could be based on trading volume, potentially rewarding the platform’s most active users.

Rising Valuations and Market Momentum

The announcement comes as prediction markets experience record engagement. According to The Block, Kalshi and Polymarket reached trading volumes of $1.4 billion and $2.9 billion respectively last month.

At the same time, Polymarket is reportedly in talks to raise funds at a valuation of up to $15 billion, following a recent $2 billion investment from Intercontinental Exchange, the parent company of the New York Stock Exchange. That deal valued the company at $9 billion, up from $1.2 billion after a $150 million round led by Founders Fund in June.

Polymarket is also expanding its reach beyond crypto, partnering with DraftKings for prediction market clearing and signing a multi-year licensing deal with the National Hockey League, underscoring its growing mainstream presence.