Polymarket is preparing a broad platform overhaul in the coming weeks, centered on the launch of CTF Exchange V2 and a new native stablecoin called Polymarket USD. The company described the release as its biggest platform change since launch.
CTF Exchange V2 targets faster execution and lower fees
The updated smart contract is designed to improve transaction speed, efficiency, and cost onchain. Polymarket said it is refining the order-matching system so trades can execute faster and at lower fees. It is also simplifying the data structure used to define orders, which should reduce complexity in user interactions.
The upgrade also reshapes the platform’s Central Limit Order Book, or CLOB. According to the announcement, Polymarket is combining improvements inspired by offchain order book models with its onchain architecture to expand the system’s technical range. Most end users are expected to see only brief maintenance during the transition, while development teams using Polymarket SDKs will need to update integrations for the new data standard.
Polymarket USD will replace USDC.e for most users
A separate change affects settlement assets on the platform. Polymarket is introducing Polymarket USD, a stablecoin that will be backed 1:1 by USDC on Polygon. The company contrasted that with USDC.e, which it said is not Circle’s official version, and framed the move as a response to user concerns about the nature and backing of USDC.e.
For most users, the transition to Polymarket USD will happen automatically. More active traders will need to complete a few minor technical steps. Polymarket said the change is intended to create a more secure setup for value transfers and token transactions on the platform.
EIP-1271 support expands wallet compatibility
The company is also enabling EIP-1271 support. That will allow multisig wallets and smart contract-based wallets to interact with Polymarket, making integrations easier for products such as Safe.
Operationally, users should expect a reset during migration. Polymarket said existing order books will be cleared, and the platform will enter short-term maintenance as the upgrade is carried out. Users will receive about one week of advance notice before those interruptions begin. The latest announcement did not include new details on the platform’s native POLY token.
Growth and competition are pushing the rebuild
Polymarket linked the overhaul to rising competition and a rapidly expanding user base. The company noted that the number of next-generation prediction market platforms has increased sharply in recent months, with firms including Coinbase and Crypto.com entering the segment.
Founded in 2020, Polymarket is backed by Intercontinental Exchange. Recent reports also indicate the company is preparing a new funding round that could value the platform at roughly $20 billion.