Polymarket Exec Confirms Token, Airdrop—After Prediction Market Returns to US
The post Polymarket Exec Confirms Token, Airdrop—After Prediction Market Returns to US appeared on BitcoinEthereumNews.com. In brief Matthew Modabber, Polymarket’s CMO, confirmed that a token and airdrop will come eventually. But first, the prediction market wants to reenter the U.S. after it was effectively banned by the CFTC in 2022. Modabber said that the company wants the token to have “true utility,” so it needs to be a “core priority.” Polymarket CMO Matthew Modabber told Degenz Live—a show from Decrypt‘s sister company, Rug Radio—that a token and an airdrop for the prediction market are officially coming. Modabber said the company wants the token to have “true utility” and “longevity,” and ultimately be “well done”—so the firm is taking its time with the rollout. However, for now, Polymarket’s focus is zeroed in on relaunching its product in the U.S. after being effectively banned in 2022 via a CFTC settlement. The Polymarket U.S. app is currently in an early testing phase, with users required to receive an invitation to use the platform. Once the leading prediction market has “taken care of business” in that regard, Modabber said, it will shift back to launching the POLY token. “We just want to make sure that when we do shift our focus to a token, it is one of our core priorities. Right now, our core priority is launching the U.S.,” Modabber explained. “It’s not like we’re not eyeing and getting things ready. But, obviously, our focus will shift more to that once it’s time.” The CFTC fined Polymarket $1.2 million in 2022 over alleged violations of “swap data reporting and recordkeeping regulations,” which effectively banned the platform in the U.S. Still, the platform continued to grow into the industry titan it is today, becoming a trusted source of sentiment in the U.S. elections and other categories. Troubles continued for Polymarket, though, with CEO Shayne Coplan having his home raided by…
The post Polymarket Exec Confirms Token, Airdrop—After Prediction Market Returns to US appeared on BitcoinEthereumNews.com.
In brief Matthew Modabber, Polymarket’s CMO, confirmed that a token and airdrop will come eventually. But first, the prediction market wants to reenter the U.S. after it was effectively banned by the CFTC in 2022. Modabber said that the company wants the token to have “true utility,” so it needs to be a “core priority.” Polymarket CMO Matthew Modabber told Degenz Live—a show from Decrypt‘s sister company, Rug Radio—that a token and an airdrop for the prediction market are officially coming. Modabber said the company wants the token to have “true utility” and “longevity,” and ultimately be “well done”—so the firm is taking its time with the rollout. However, for now, Polymarket’s focus is zeroed in on relaunching its product in the U.S. after being effectively banned in 2022 via a CFTC settlement. The Polymarket U.S. app is currently in an early testing phase, with users required to receive an invitation to use the platform. Once the leading prediction market has “taken care of business” in that regard, Modabber said, it will shift back to launching the POLY token. “We just want to make sure that when we do shift our focus to a token, it is one of our core priorities. Right now, our core priority is launching the U.S.,” Modabber explained. “It’s not like we’re not eyeing and getting things ready. But, obviously, our focus will shift more to that once it’s time.” The CFTC fined Polymarket $1.2 million in 2022 over alleged violations of “swap data reporting and recordkeeping regulations,” which effectively banned the platform in the U.S. Still, the platform continued to grow into the industry titan it is today, becoming a trusted source of sentiment in the U.S. elections and other categories. Troubles continued for Polymarket, though, with CEO Shayne Coplan having his home raided by…
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