Polymarket Likely to Launch Its Own Token & Raise Over $50 Million

 
Ritu Lavania
Written By 
Ritu Lavania
 
Harsh Chauhan
Edited by 
Harsh Chauhan
September 24, 2024

Polymarket, the Blockchain-backed prediction platform is reportedly seeking to launch its own token to operate its predictions. Sources have also revealed that Polymarket is in talks to raise funds over $50 million.

Polymarket’s Big Bet

Sources have revealed that Polymarket is discussing the prospects of launching a token and if the plans manifest, then it could be one of the most exciting token launches since the crypto market recovered from the 2022 collapse

The person known to this matter added that the investors in this fund raising will receive token warrants, giving them the privilege to purchase tokens if they are issued in the future. However, it remains to be seen whether investors will also get equity.

In May, the platform had already raised a total of $70 million over two rounds, with Series B led by billionaire Peter Thiel’s Founders Fund.

According to election betting using crypto and other currencies.

Also Read: With 52%, Kamala Harris Maintains Advantage in Four US Swing States: Polymarket

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Ritu Lavania
Written by Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. ionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.