The prediction market platform Polymarket has announced plans to introduce a native token accompanied by an airdrop following its relaunch in the US.

Chief Marketing Officer Matthew Modabber stated, “A token and an airdrop are in the pipeline,” emphasizing that this initiative will follow the company’s reestablishment of operations in the US via its recently acquired CFTC-regulated exchange, QCX.

Progress on US relaunch

Polymarket is making strides to return to the US market after a 2022 settlement with the Commodity Futures Trading Commission (CFTC), which imposed a $1.2 million penalty for purported breaches of “swap data reporting and recordkeeping regulations.” This agreement necessitated the limitation of access for US users.

In July 2025, Polymarket acquired QCX, a CFTC-registered derivatives exchange, for $112 million to satisfy US regulatory standards. Subsequently, in September, the CFTC issued a no-action letter to QCX, enabling it to function under current regulations.

A regulatory documentation dated September 30 mentioned that, “The Exchange aims to list the Product(s) on or after October 2, 2025,” hinting that the US version of the platform might go live imminently.

Concentration on relaunch

During a guest appearance on the Degenz Live podcast, Modabber highlighted that the company’s immediate priority is facilitating a successful US launch prior to rolling out the token.

“Currently, our main focus is on launching in the US and creating significant visibility there. Once we address our US operations and launch, we will shift our attention to the token,” he elaborated.

According to Modabber, Polymarket envisions the token to possess “genuine utility” and “sustainability.” He pointed out that while preparations for the rollout are underway, the timeline will hinge on the successful completion of the US relaunch.

“We intend to ensure that when we pivot towards a token, it becomes one of our primary focuses. At this moment, our main attention is on the US launch,” he concluded.

Token development and community engagement

While explicit information about the POLY token remains under wraps, speculation has surged following a post by Polymarket CEO Shayne Coplan, who shared the ticker symbol on X earlier this year. In June, The Information reported that the firm had offered token warrants to investors during its funding round in July, granting them the option to acquire POLY upon its launch.

Since 2024, users have been engaging in farming for a potential airdrop, utilizing increasingly intricate techniques to mask activities and sway potential allocations. Following Modabber’s remarks, the odds on Myriad surged from 11% to 29% for an official token announcement before the conclusion of 2025.

Polymarket enables its users to trade shares on real-world occurrences—such as elections or sports outcomes—through tokenized “yes” or “no” markets. The company has continued its international expansion despite the 2022 CFTC settlement.

Last year, Polymarket faced media scrutiny after it was reported that CEO Coplan’s residence was raided by the FBI, resulting in the seizure of his phone and other electronic devices.

This month, Polymarket’s valuation soared to $9 billion after receiving a $2 billion investment from the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.

“Jeff [Sprecher, the CEO of Intercontinental Exchange] is a strong proponent of tokenization,” Coplan commented in a discussion with TBPN. “Polymarket exemplifies the largest consumer product predicated on tokenization. At its core, every prediction market is indeed tokenized—there exists a yes token and a no token. A multitude of concepts have been explored in this domain.”

Modabber also referenced Hyperliquid as a prime example of a well-conceived project that attained enduring token usability. “Teams like Hyperliquid, who carefully strategized, will likely endure long into the future,” he remarked.

For now, Polymarket directs its efforts towards finalizing its US rollout before refocusing on the token launch and subsequent user airdrop.