Polymarket, a crypto-based prediction market platform, is currently seeking $50 million in new funding, as reported by The Information on Monday.
Unnamed sources have confirmed that the New York-based startup is considering the issuance of its own token, and investors in this round could receive warrants that would allow them to purchase the tokens in the future.
The article also mentioned that Polymarket may use this potential token as a way for users to validate the outcome of real-world events.
However, it is unclear if this token would supplement, replace, or act as an alternative to UMA Protocol, the “oracle” service that Polymarket currently uses for resolving markets and settling disputes through community votes.
