Polymarket Launches Full Exchange Upgrade With Native Stablecoin, Stronger U.S. Push

Polymarket is a prediction market that uses event contracts to show the probabilities of political, financial and sports outcomes. It previously used bridged USDC.e on Polygon as collateral. Switching to Polymarket USD (pUSD), which is backed 1:1 by USDC, should reduce bridge risk and give the platform greater control over trading and settlement. The move also lays the groundwork for U.S. expansion and a future POLY governance token.

Polymarket announced the full upgrade on April 6, 2026, and completed the transition at about 11:00 UTC on April 28. The new system introduced a rewritten CLOB v2 backend, new trading contracts, an SDK and pUSD. Existing order books were cleared before a downtime window of about one hour. The platform also committed $1 million in liquidity incentives to attract market makers, while reports said the company was seeking funding at a valuation of up to $15 billion.