Polymarket.com - Bets on any events (politics, sports, crypto markets, and more)

[Churchillvv]

Does anyone have other explanations?

I don’t have anything else that comes in mind other that this but however, in addition to that as a competitive market they are probably trying to make more profit or increase the usage of their own native token polymarket USD apart from this the sole intention would probably to have full control of pay out that they can do whatever they like and maybe have people in their control that will be intensifying the requirements to prove you won a certain amount that is unbelievable as people have been wining in polymarket.

[Hispo]

Today, many media outlets reported that Polymarket is planning to stop using USDC on the Polygon network as its primary settlement asset and switch to its own version of a USDC-backed token. I’ve been thinking about why they might be interested in this, and the only explanation that comes to mind is the ability to deny payout of winnings.

Does anyone have other explanations?

They undoubtedly want to have more control over the flow of money on their website. To me it is kinda a red flag, if you ask me, keeping in mind the whole collection of scandals and irregularities which have happened with people who have managed to store importants amounts of money within political markets.
To me it could be also a move by them, so they can ask for extra fees in order for people to have access to liquity or more tokens to continue to bet on all their markets.

I have no doubt that within their new token, they will include the ability to "freeze" any address they find to be "suspicious" under their standards, which is bad news.

Hopefully this will further encourage people to find other alternatives to Polymarket, we need healthy competition so poly won't push abusive measures like this one.

[salad daging]

Today, many media outlets reported that Polymarket is planning to stop using USDC on the Polygon network as its primary settlement asset and switch to its own version of a USDC-backed token. I’ve been thinking about why they might be interested in this, and the only explanation that comes to mind is the ability to deny payout of winnings.

Does anyone have other explanations?

(Polymarket USD) will replace USDC.e wrapped because the infrastructure relies on other inter-chains so it is prone to hacking risks that can result in large losses, maybe that's the reason Polymarket took over to its own native stablecoin that they are developing, PUSD is backed 1:1 USDC Circle. This way, Polymarket will have control over the stablecoin they create.

• https://www.coindesk.com/markets/2026/04/06/polymarket-reveals-a-full-exchange-upgrade-to-take-control-of-its-own-trading-and-truth

[Haunebu]

Impressive, right? If someone places bets at $0.99 and in 99.4% of cases turns them into $1, that means that out of 1,000 one-dollar bets they will win 994 times, earning $0.01 each time (a total of $9.94), and lose 6 times, losing $0.99 each time (a total of $5.94). That is, a 4x increase of the deposit over 1,000 bets. And they make those 1,000 bets in 14 hours (75 bets per hour)!

Insane results!

This is a well known strategy that has been common knowledge on polymarket for a long time now which is why this isn't something new. There is a big risk with this strategy since late bets can reverse in rare cases. This is why it's not a 100% guaranteed winning strategy.

The person that you mentioned got extremely lucky avoiding such reversals and made bank basically.

[internetional]

(Polymarket USD) will replace USDC.e wrapped because the infrastructure relies on other inter-chains so it is prone to hacking risks that can result in large losses, maybe that's the reason Polymarket took over to its own native stablecoin that they are developing, PUSD is backed 1:1 USDC Circle. This way, Polymarket will have control over the stablecoin they create.

Wow, that's quite a twist! A third-party stablecoin might get hacked, so the solution is to create your own? That sounds a bit stretched. If there are real security risks, it would make more sense to explain them clearly, outline possible attack vectors, and show how the new stablecoin would actually address those threats. Otherwise, it comes across as rather unconvincing.

And in general, in a situation like this, it would be more reasonable to rely on another well-established solution instead of creating a new, unproven one.

[Fiatless]

Wow, that's quite a twist! A third-party stablecoin might get hacked, so the solution is to create your own? That sounds a bit stretched. If there are real security risks, it would make more sense to explain them clearly, outline possible attack vectors, and show how the new stablecoin would actually address those threats. Otherwise, it comes across as rather unconvincing.

And in general, in a situation like this, it would be more reasonable to rely on another well-established solution instead of creating a new, unproven one.

What is the guarantee that Polymarket USD is safer? People would trust well-established coins like USDC more than the proposed stablecoin. This restructuring might be because they want to reduce the cost of operation like gas fees. Polymarket said its stablecoin would be backed 1:1 by USDC, I hope they will be transparent. Let's hope that Polymarket USD will begin to build its reputation in the crypto space.

[Kelvinid]

It is marketed as a decentralized prediction website, but it is not. You get that clearly when you sign up and you are giving addresses generated for you. There is an option to export the private keys on this address but if you did not generate it yourself it is not your keys and if it is not, the platform is not decentralized.

The way your title is worded and also the way the OP begins, one would easily think this is an official ANN for polymarket. You can include there that it is an inquiry.

- Jay -

That's what I noticed also, since everything posted in the thread looks like following a format or pattern like an official ANN thread. But anyways, thanks to this topic it enlightened me with some of the features of Polymarket which I though it was clearly the same like a casino but I was wrong, I now clearly get it.

However, just an honest feedback, since Polymarket is quite new and not so established yet, I feel its way safer to bet on the reputable casinos we often used to bet. But I'm actually open to experience this kind of betting or prediction market. OP said there's no house edge since there's certainly no house, so let's see. Maybe I can be more lucky here than betting in real casinos.

[Davidvictorson]

That's what I noticed also, since everything posted in the thread looks like following a format or pattern like an official ANN thread. But anyways, thanks to this topic it enlightened me with some of the features of Polymarket which I though it was clearly the same like a casino but I was wrong, I now clearly get it.

I thought the same thing too. Infact, the first question that came to my head was - Polymarket has an ANN thread on bitcointalk forum?
OP has to fix the subject to prevent further confusion or mix ups.

However, just an honest feedback, since Polymarket is quite new and not so established yet, I feel its way safer to bet on the reputable casinos we often used to bet. But I'm actually open to experience this kind of betting or prediction market. OP said there's no house edge since there's certainly no house, so let's see. Maybe I can be more lucky here than betting in real casinos.

Even prediction market that looks as if it operates differently from online casinos have house edge. The somehow have the upper hand against people who participates in the predictions on their website.

[Mahiyammahi]

Today, many media outlets reported that Polymarket is planning to stop using USDC on the Polygon network as its primary settlement asset and switch to its own version of a USDC-backed token. I’ve been thinking about why they might be interested in this, and the only explanation that comes to mind is the ability to deny payout of winnings.

Does anyone have other explanations?

A friend of mine faced a horrible situation yesterday. He placed some bets on prediction market , when the ods we're good enough he tried to cashed out early but for their system bug it showed that take profit has succeed but in the end he saw his balance is  zeero. Then he findout that it was a bug from their end by contacting the support team.

Which was almost $1500 , he should have a profit of $1000 if there is no bug . Still struggling to get an proper explanations from team. If they are totally moving towards centralized way idk if we can call Polymarket as a reliable prediction market anymore

[salad daging]

(Polymarket USD) will replace USDC.e wrapped because the infrastructure relies on other inter-chains so it is prone to hacking risks that can result in large losses, maybe that's the reason Polymarket took over to its own native stablecoin that they are developing, PUSD is backed 1:1 USDC Circle. This way, Polymarket will have control over the stablecoin they create.

Wow, that's quite a twist! A third-party stablecoin might get hacked, so the solution is to create your own? That sounds a bit stretched. If there are real security risks, it would make more sense to explain them clearly, outline possible attack vectors, and show how the new stablecoin would actually address those threats. Otherwise, it comes across as rather unconvincing.

They said it was community feedback. About security maybe they will explain in detail after the official launch, they said in the next few weeks, what is clear is that this has improved infrastructure better than before, as well as gas consumption is cheaper using Polymarket's own stablecoin that is the reason they created it.

I thought the same thing too. Infact, the first question that came to my head was - Polymarket has an ANN thread on bitcointalk forum?
OP has to fix the subject to prevent further confusion or mix ups.

Suggestion to @internetional  should add “Unofficial” in the thread title. So that there is no confusion.

OP has also made this statement:

I am not a representative of the platform. I am just opening this thread to get answers to my questions. The following information is based on what I found in public sources.

[Z_MBFM]

Today, many media outlets reported that Polymarket is planning to stop using USDC on the Polygon network as its primary settlement asset and switch to its own version of a USDC-backed token. I’ve been thinking about why they might be interested in this, and the only explanation that comes to mind is the ability to deny payout of winnings.

Does anyone have other explanations?

A friend of mine faced a horrible situation yesterday. He placed some bets on prediction market , when the ods we're good enough he tried to cashed out early but for their system bug it showed that take profit has succeed but in the end he saw his balance is  zeero. Then he findout that it was a bug from their end by contacting the support team.

Which was almost $1500 , he should have a profit of $1000 if there is no bug . Still struggling to get an proper explanations from team. If they are totally moving towards centralized way idk if we can call Polymarket as a reliable prediction market anymore

Polymarket is definitely a trusted platform here if you win then your money will definitely be given to you. No ordinary person bets much here, those who bet here are very high level people and the big rich people of the world bet here so there will be no problem with money here. This is a very big prediction market where there is an opportunity to make predictions about different things in the world, such as the ongoing war between Iran and Israel, many types of predictions are being made here and through this many people are earning millions of dollars and many are becoming millions of dollars.

[internetional]

Polymarket is definitely a trusted platform here if you win then your money will definitely be given to you.

Turns out, not exactly. Bloomberg reports on bets about a possible ceasefire between the US and Iran, saying there are ongoing disputes about whether the current agreement qualifies as a full ceasefire, and that some payouts have been frozen: https://www.bloomberg.com/news/articles/2026-04-08/polymarket-s-iran-bets-draw-fresh-disputes-and-insider-scrutiny

It's interesting to understand how this was technically possible. As far as I know, Polymarket uses quite a simple oracle: if someone disputes the outcome, it gets resolved by a vote of token holders, and their decision is final. Or did Bloomberg mean the "freeze" only during the voting period?

[Hispo]

Polymarket is definitely a trusted platform here if you win then your money will definitely be given to you.

Turns out, not exactly. Bloomberg reports on bets about a possible ceasefire between the US and Iran, saying there are ongoing disputes about whether the current agreement qualifies as a full ceasefire, and that some payouts have been frozen: https://www.bloomberg.com/news/articles/2026-04-08/polymarket-s-iran-bets-draw-fresh-disputes-and-insider-scrutiny

It's interesting to understand how this was technically possible. As far as I know, Polymarket uses quite a simple oracle: if someone disputes the outcome, it gets resolved by a vote of token holders, and their decision is final. Or did Bloomberg mean the "freeze" only during the voting period?

I think Bloomberg meant the freezing of those assets during the voting period.
Still, even if Polymarket uses a simple oracle technology in order to solve issues like that one related to Iran-USA ceasefire, that does not solve their problem with inside traders and perceived unfairness in their betting markets.

Something similar happened when people were betting on the possible ousting of Maduro, the dictator of my country, Venezuela. Polymarket froze assets and there were many traders who felt wronged because the had correctly guessed what was going to happen and still got their money frozen.

[bitmover]

Polymarket is definitely a trusted platform here if you win then your money will definitely be given to you.

Turns out, not exactly. Bloomberg reports on bets about a possible ceasefire between the US and Iran, saying there are ongoing disputes about whether the current agreement qualifies as a full ceasefire, and that some payouts have been frozen: https://www.bloomberg.com/news/articles/2026-04-08/polymarket-s-iran-bets-draw-fresh-disputes-and-insider-scrutiny

It's interesting to understand how this was technically possible. As far as I know, Polymarket uses quite a simple oracle: if someone disputes the outcome, it gets resolved by a vote of token holders, and their decision is final. Or did Bloomberg mean the "freeze" only during the voting period?

Looks like there was some kind of insider information leak

https://www.bitget.com/news/detail/12560605349532

What kind of insider activity would that be? Someone from bloomberg? Someone from US/Iran goverment?? Quite crazy.

Insider traders should be heavily punished, not only lose their bet money.

[Fiatless]

Looks like there was some kind of insider information leak

https://www.bitget.com/news/detail/12560605349532

What kind of insider activity would that be? Someone from bloomberg? Someone from US/Iran goverment?? Quite crazy.

Insider traders should be heavily punished, not only lose their bet money.

The suspicion about insider trading is getting more attention. There is also a strong indication that the leaks are from US government officials. At least Iran didn't have the information about the toppling of Venezuelan President Maduro. Meanwhile, some suspicious accounts made money from that prediction. The US legislators' concern that top government officials are using nonpublic information for financial benefit, also shows that US government officials might be behind these insider trading.

[dwyane36]

Looks like there was some kind of insider information leak

https://www.bitget.com/news/detail/12560605349532

What kind of insider activity would that be? Someone from bloomberg? Someone from US/Iran goverment?? Quite crazy.

Insider traders should be heavily punished, not only lose their bet money.

The suspicion about insider trading is getting more attention. There is also a strong indication that the leaks are from US government officials. At least Iran didn't have the information about the toppling of Venezuelan President Maduro. Meanwhile, some suspicious accounts made money from that prediction. The US legislators' concern that top government officials are using nonpublic information for financial benefit, also shows that US government officials might be behind these insider trading.

It's worth noting that when Trump announced the launch of his meme token, there were also suspicious addresses buying it for millions of dollars long before the hype even began. My point is that insiders have been around for a long time, even before geopolitical events on the polymarket became a hot topic. So, it should come as no surprise that there are insiders among the top echelons of the current US government officials or their inner circles who don’t particularly hide their actions and seem to feel a sense of impunity. Most likely, as long as Trump is in power, no one will be punished for this.