Polymarket token confirmed.
Polymarket CMO Matthew Modabber confirmed during an interview on Degenz Live, that there will be a token and an airdrop.
Modabber also confirmed our suspicions that Polymarket’s core priority is to launch in the US before shifting focus to the token and airdrop.
From a strategic perspective, trying to scry what the parameters of the Polymarket airdrop will be might be a fool’s errand. Much like OpenSea, Polymarket has been around for years, and it’s unclear if they’ll offer preference to longtime users. Additionally, whether it will be weighted based on trade volume, trade success, engaging in other activities such and liquidity provision, referral codes… the list of variables is nearly endless.
Getting some hints could prove lucrative, however: rumor has it Polymarket is raising at a $15b valuation. A 10% airdrop would then be among the largest ever, with $1.5b going into users’ pockets.
We’ll be keeping an eye out for whether or not leadership gives us an idea of the best way to farm.
Kalshi and Polymarket partner with the NHL.
Kalshi and Polymarket are both the official partners of the NHL. Is this a turning point for the mainstream cementation of prediction markets?
Meanwhile, the casino trade group, the American Gaming Association has stated that it stands against the NHL partnership with Kalshi and Polymarket, and it has called the NHL's actions “deeply concerning.” It also referred to Kalshi and Polymarket as "backdoor gambling schemes masquerading as 'financial products.'"
Here is its full statement:
Polymarket looks to raise funding at a valuation of up to $15B and Kalshi is fielding funding that would value them at over $10B. (Bloomberg)
Polymarket is set to clear trades for DraftKings (Bloomberg).
DraftKings announced this week they purchased Railbird, a CFTC licensed exchange.
DraftKings plan to launch a mobile app called “DraftKing Predictions” that “will allow users to trade event contracts on real-world outcomes in finance, culture, and entertainment.”
Similar to how DeFi is being embraced by existing financial institutions, it appears that conventional gambling and prediction markets may converge and overlap. The ensuing competition will be great for users, but ultimately most weekend warriors should hope that the cryptonative platforms win out -- they’re the ones that tend to airdrop, after all.
What’s going on? Kentucky plaintiffs allege Kalshi’s event contracts violate Kentucky’s gambling laws.
Kalshi removed the case to federal court, arguing that the contracts are futures or derivatives regulated by the Commodity Futures Trading Commission (CFTC), not state gambling regulators.
This matters because a federal ruling in favor of state regulation could force Kalshi to halt or heavily modify operations in states across the country.
Kalshi and Polymarket weekly transactions.
