Polymarket reveals a 'full exchange upgrade' to take control of its own trading and truth

What Happened

Polymarket announced a comprehensive platform upgrade including a new native collateral token called Polymarket USD, replacing the bridged USDC.e stablecoin. The overhaul features a rebuilt trading engine and updated smart contracts. The company previously signaled plans for a POLY governance token to potentially handle market resolution, moving away from UMA's oracle system. Polymarket re-entered U.S. markets in July 2025 with CFTC registration and reportedly achieved a $20 billion valuation.

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