Polymarket CMO Confirms Token Airdrop

Polymarket CMO Matthew Modabber has confirmed the POLY token airdrop, stating Thursday in an interview with Degenz Live, "There will be a token, there will be an airdrop."

What’s the Scoop?

• Token and Airdrop Confirmed: While Modabber confirmed the POLY airdrop to Degenz Live, timing remains uncertain. Modabber emphasized that Polymarket's immediate focus is its impending U.S. relaunch.
• Regulated Return: Polymarket has been building towards its American return for months. Earlier this year, Polymarket acquired CFTC-registered derivatives exchange QCX for $112M. This subsidiary received a no-action letter for its event contract recordkeeping policies from the CFTC in early September, and regulatory filings submitted September 30 indicate the exchange could begin listing markets at any time.
• Soaring Valuation: Intercontinental Exchange (ICE) invested $2B in Polymarket at a $9B post-investment valuation just two weeks ago, yet the prediction market is already reported to be seeking new funding at a potential $15B valuation.
• DraftKings Competition: Beleaguered DraftKings (DKNG) – an online sports gambling platform whose share price has plummeted over 30% since September amid increasing competition from prediction markets – announced its own prediction market mobile app earlier this week, which will tap Polymarket for clearinghouse services.

Bankless Take:

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