Polymarket Launches CLOB v2 Upgrade and Introduces pUSD Settlement Token

Key Facts

1Polymarket is exploring a path to bring its main exchange back to the United States through discussions with the CFTC.

2The move, if approved, would allow Polymarket to compete with Kalshi in the U.S. and bring event-trading activity under regulatory oversight.

Polymarket has launched its CLOB v2 upgrade and introduced pUSD as the primary settlement token, with reports indicating the platform is now targeting a $15 billion valuation. To bolster compliance, the platform selected Chainalysis for advanced monitoring tools, supporting its ongoing discussions with the CFTC to restore U.S. user access. In a parallel regulatory move, competitor Kalshi has implemented new measures to address insider trading concerns and enhance market integrity. Meanwhile, decentralized exchange Hyperliquid has begun public testing for its prediction market entry via the HIP-4 proposal, featuring a zero-fee structure. These technical upgrades and strategic partnerships are designed to maintain Polymarket's dominance as the industry faces heightened competition and stricter oversight.

4 months ago

Version History

Version 104 months ago

What changed: Added the $15 billion valuation target and noted Kalshi's new measures against insider trading.

Version 94 months ago

What changed: Added information regarding Polymarket's partnership with Chainalysis to enhance monitoring tools and regulatory compliance.

Version 84 months ago

What changed: Added details regarding Hyperliquid's competitive strategy, including its zero-fee structure and cross-margining capabilities with crypto futures.

Version 74 months ago

What changed: Added information regarding Hyperliquid's entry into the prediction market space via the HIP-4 proposal as a new competitor.

Version 64 months ago

What changed: Added specific monthly volume metrics ($25.7B) and the percentage of new user activity driven by crypto (40%).

Version 54 months ago

What changed: Added specific details regarding talks with the CFTC to restore full U.S. access and the timeline for the limited December 2025 rollout focused on sports contracts.

Version 44 months ago

What changed: Added research data indicating profit concentration and the dominance of a small group of traders over price movements on the platform.

Version 34 months ago

What changed: The story was updated to include the platform's official denial of data breach allegations and its response to claims regarding leaked user information.

Version 24 months ago

What changed: The story was updated to include reports that Polymarket has formally approached the CFTC to lift the trading ban on U.S. users in place since 2022.

Version 14 months ago

What changed: Updated the story to include the launch of the CLOB v2 upgrade, the introduction of the pUSD settlement token, and mandatory balance migration.