Hassan Maishera
TL;DR
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Polymarket is rolling out a major upgrade (V2) featuring a more efficient trading engine, lower gas costs, and a revamped order book.
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The platform will also introduce Polymarket USD, a new USDC-backed collateral token replacing USDC.e, alongside added support for smart contract wallets.
Polymarket Reveals Major Trading Engine Upgrade and Plans for Native Stablecoin Launch
Polymarket, the largest fully onchain prediction market, is preparing a major platform upgrade that will introduce a rebuilt trading engine alongside a native USD stablecoin.
In a post on X Monday, the company confirmed it will “upgrade the entire Polymarket exchange stack over the next 2–3 weeks,” rolling out new contracts, a redesigned order book, and a new collateral token.
We've heard your feedback, and we're excited to announce Polymarket is getting a full exchange upgrade.
— Polymarket (@Polymarket) April 6, 2026
Over the next few weeks, we're rolling out a rebuilt trading engine, upgraded smart contracts, and a new collateral token (Polymarket USD) to move off USDC.e. 🧵
At the core of the upgrade is the launch of Polymarket CTF Exchange V2, an updated smart contract framework that powers the platform’s onchain operations. The new version is designed to significantly improve performance, with a faster and more efficient matching engine that reduces the number of operations required to validate and match trades. It also lowers gas costs and simplifies the order structure by reducing the number of required data fields.
Polymarket described the rollout as its most significant platform update since launch, arriving after months of steady growth and intensifying competition from rivals such as Kalshi, as well as new prediction-style offerings from platforms like Coinbase, Crypto.com, and DraftKings.
New order book and migration process
The V2 upgrade will also introduce an enhanced Central Limit Order Book (CLOB) that blends offchain order handling with onchain execution. Developers running bots or custom integrations will need to update their SDKs and re-sign orders using the new structure, though everyday users are expected to experience minimal disruption outside of the migration window.
During the transition, existing order books will be cleared, and trading will be temporarily paused. Polymarket said it will provide at least one week’s notice before the scheduled maintenance window.
One of the most impactful changes for users is the addition of EIP-1271 support, an Ethereum standard that enables smart contract wallets to sign orders directly. This will make it easier for multi-signature wallets such as Safe to interact with the platform.
Polymarket is also introducing Polymarket USD, a new collateral token that will replace USDC.e — a bridged version of USDC previously used on Polygon. The move addresses concerns around USDC.e not being the official native USDC issued by Circle.
The new token will be fully backed 1:1 by USDC. For most users, the transition will be handled automatically through the platform’s interface with a one-time approval. However, advanced users may need to manually wrap their USDC.e or USDC into Polymarket USD via a dedicated smart contract function.
While the announcement detailed sweeping technical changes, it did not address the potential launch of a POLY token, which executives have previously hinted at exploring.
Meanwhile, Polymarket is reportedly seeking fresh funding at a valuation close to $20 billion. Founded in 2020, the company is backed by Intercontinental Exchange, the parent of the New York Stock Exchange, underscoring its growing position at the intersection of crypto and traditional finance.
