Prediction Market Giant Polymarket Gears up for Token Airdrop and VC Windfall

Polymarket appears to be gearing up for both a token launch and an airdrop, according to CMO Matthew Modabber. Speaking on the Degenz Live podcast, Modabber explained that the team could have rolled it out earlier but chose to take their time to do things right.

“There will be a token, there will be an airdrop,” Modabber remarked.

He explained that the goal is to create a token with genuine utility and staying power—“to be around forever,” as he put it. “That’s what we expect from ourselves, and that’s what I think everyone in the space expects from us,” Polymarket’s CMO added.

The news landed just as Intercontinental Exchange (ICE)—the parent company of the New York Stock Exchange (NYSE)—poured $2 billion into the budding prediction market platform.

Additionally, Bloomberg reported earlier this week that Polymarket is still in early-stage talks for a funding round valued between $12 billion and $15 billion. Bloomberg’s Kate Clark cited “people familiar with the matter,” adding that “Polymarket declined to comment on the latest deal talks.” Polymarket’s chief rival, Kalshi, just locked in a hefty $300 million raise of its own.

With new capital brewing and a token drop on deck, Polymarket’s team could soon be paddling through piles of cash. A hefty valuation and ICE’s billions have already laid the groundwork, but the incoming token might crank both the company’s worth and its momentum up another notch.

On top of that, with an airdrop in play, Polymarket seems to be teeing up a frenzy of onchain activity as users jockey for a piece of the action.

• What is Polymarket planning?
  Polymarket plans to launch a token and airdrop, according to CMO Matthew Modabber.
• How much funding has Polymarket secured?
  Intercontinental Exchange (ICE) recently invested $2 billion in the company.
• What valuation is Polymarket aiming for?
  Bloomberg reports the firm is in early funding talks valuing it between $12 billion and $15 billion.
• Who is Polymarket’s biggest competitor?
  Kalshi, which just raised $300 million, remains Polymarket’s main rival.