- Polymarket confirmed it will launch a token and airdrop part of it to users.
- The token launch will follow Polymarket‘s US relaunch.
- The company based its plans partly on Hyperliquid‘s successful token release.
- Polymarket recently acquired a US-regulated exchange, QCX, to resume operations in the US.
- Intercontinental Exchange invested $2 billion in Polymarket, valuing it near $8 billion.
Polymarket, a prediction market platform, plans to issue a token and distribute some of it to its users in an airdrop, according to chief marketing officer Matthew Modabber. The token launch will take place after the company relaunches its US services.
Earlier this year, Polymarket acquired QCX, a derivatives exchange licensed by the US Commodity Futures Trading Commission (CFTC), for $112 million. The CFTC recently granted a no-action letter allowing QCX to operate, enabling Polymarket‘s return to the US market.
Modabber stated on the Degenz Live podcast, “There will be a token, there will be an airdrop,” and added the company aims for the token to have lasting utility. However, he mentioned that the current focus remains on the US app launch before prioritizing the token rollout.
The token is inspired by Hyperliquid, a perpetual futures exchange that launched its HYPE token in November 2024. Hyperliquid distributed 31% of its token supply to users, an unusually high airdrop, and the token has since increased about 512% in value.
This development comes as Polymarket recently received a $2 billion investment from Intercontinental Exchange, the owner of the New York Stock Exchange, valuing the company around $8 billion. The US relaunch places Polymarket in direct competition with Kalshi, a US prediction market platform, which briefly surpassed Polymarket in trading volume in September.
The token’s specific role and utility have not yet been disclosed, but Modabber praised Hyperliquid‘s careful token strategy, noting such teams “will be around forever as a result.”
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