BroadChain has learned that on April 7, The Block reported that on-chain prediction market platform Polymarket will roll out a major system upgrade within the next two to three weeks. The overhaul includes a complete rebuild of its trading engine, the launch of a new order book structure, and the introduction of its native stablecoin, Polymarket USD.
The centerpiece of this upgrade is the launch of Polymarket CTF Exchange V2. This new version is designed to optimize matching efficiency, streamline order validation and matching processes, and reduce gas costs. A redesigned order data structure with fewer fields will further improve overall execution speed. V2 will also feature an upgraded Central Limit Order Book (CLOB) that combines an off-chain order book with on-chain execution.
On the asset side, Polymarket will launch Polymarket USD, a USDC-pegged stablecoin backed 1:1 by USDC reserves. It will gradually phase out the currently used cross-chain asset, USDC.e. This move is intended to address user concerns over the security risks associated with unofficial bridged assets.
Furthermore, the platform will adopt the EIP-1271 standard, allowing smart contract wallets—such as multisig wallets—to participate in trading directly. During the upgrade process, the existing order book will be cleared, and the platform will undergo a brief maintenance period.
Polymarket described this as its most significant upgrade since launch, coming at a time of rising user growth and increasing competition from rivals like Kalshi, Coinbase, and Crypto.com.