Polymarket CEO Shayne Coplan said at the TOKEN2049 conference in Singapore on Oct. 7 that the company is considering issuing an “on-chain asset” tied to its economics. According to Bloomberg, the prediction market was valued at $21 billion in August 2026, but no token, launch date or tokenomics details have been announced. Polymarket’s existing crypto protocol generated $137.5 million in revenue over the 12 months ending Oct. 26. The article outlines two options: tokenized equity, which would still face securities rules since SEC staff said in January 2026 that such shares remain equity securities, or a native token not backed by equity, which could follow Hyperliquid’s model of using most protocol fees for buybacks. It lists factors to check, including the value-capture mechanism, insider supply that could be sold later, and listing venues, noting Polymarket’s international site excludes U.S. residents.
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