Polymarket Launches Protocol V2 with Enhanced Features
- Polymarket is testing Protocol V2 from Oct. 5 to Oct. 30, with a tentative switchover on Nov. 2.
- V2 replaces the Gnosis Conditional Tokens Framework with an ERC-1155 contract, pUSD collateral, and a single router.
- Regulated U.S. prediction markets recently recorded $68.18 billion in volume over a month, with Kalshi holding a dominant share of 73.4% and Polymarket U.S. at 12.2%.
- The new OracleAggregator supports modules for UMA and Chainlink, among others.
- Certora has formally verified the contracts, and Polymarket offers a bug bounty of up to $5 million for critical flaws.
Polymarket’s Protocol V2 aims to streamline operations by consolidating market functions into one exchange platform using ERC-1155 contracts and pUSD collateral on Polygon backed by USDC.
In the past month, Polymarket U.S.’s market share grew significantly by 127% to $8.3 billion as it prepares for its November transition to Protocol V2 (Source)
