Polymarket to Launch POLY Airdrop After US App Relaunch
Polymarket has secured CFTC approval to relaunch its US app and plans to issue its native POLY token via an airdrop once the platform is live. The prediction market recorded $1.4 billion in trading volume last month and saw growth during the 2024 US election cycle. Polymarket aims to integrate genuine utility into the POLY token to support long-term value. Backed by a $2 billion investment from Intercontinental Exchange valuing it at $9 billion, the firm is now in talks for a new funding round at a $15 billion valuation. Traders should monitor the POLY token utility roadmap and regulatory progress, which could drive market interest and volatility.
Bullish
The announcement of CFTC approval and a US app relaunch reduces regulatory uncertainty and enhances market confidence. The planned POLY token airdrop will likely drive short-term demand and trading volume. Backing by ICE and a potential $15 billion valuation round underscores strong fundamentals and long-term growth prospects. Together, these factors suggest a bullish outlook for POLY token price in both the near term and over time.