- Polymarket, a prediction markets platform valued at around $20 billion, is acquiring the DeFi infrastructure startup Brahma.
- Brahma will wind down its three main products over the next 30 days as its team moves to evolve Polymarket’s stack.
- The acquisition aims to reduce user friction and could bring more liquidity to niche markets on the Polymarket platform.
- This is part of a broader expansion strategy for Polymarket, which has acquired other startups despite a crypto market decline.
The prediction markets powerhouse Polymarket signaled its expansion ambitions this week as it announced the acquisition of Brahma, a crypto startup specializing in decentralized finance infrastructure. Consequently, the team from Brahma will dedicate itself to enhancing Polymarket‘s product suite, according to its announcement.
Brahma, founded in 2021, says it has processed over $1 billion in volume and may be used by Polymarket to reduce friction around wallet creation and deposits. The acquisition could also bring more liquidity to niche, low-volume prediction markets on Polymarket. “Building reliable infrastructure across blockchain networks and traditional financial rails is hard—there are no shortcuts,” Shayne Coplan, founder and CEO of Polymarket, told Fortune.
He added that the Brahma team has shown it can design, operate and scale complex products for sophisticated users. Financial details of the acquisition were not disclosed at the time. Meanwhile, Brahma stated that its three main products will be wound down over the next 30 days as the acquisition proceeds.
Polymarket has quickly grown to a reported $20 billion valuation amid rapid growth in prediction markets. Data shows its total value locked and transaction volume have surged in recent months. The company has continued to invest in expansion despite a broader crypto market decline and a surge in interest in AI.
It announced a partnership with Palantir Technologies and TWG AI earlier this month to develop an AI-powered sports integrity platform. However, the platform has faced resistance across the globe, most recently in Argentina, over its unregulated gambling markets and war bets.
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