The prediction markets will introduce its own digital coin, according to a Polymarket official, but the company's top goal is to rejoin the US.

Polymarket CMO Matthew Modabber stated that the derivatives exchange will launch its own cryptocurrency, probably under the ticker "POLY," and that there will be an airdrop in an interview with Degenz Live last week. Launch dates, claim procedures, and allocation algorithms are among the details that have not yet been disclosed.

"We just want to make sure that when we do shift our focus to a token, it is one of our core priorities. Right now, our core priority is launching in the US,” said Modabber in the interview. “It’s not like we’re not eyeing and getting things ready. But, obviously, our focus will shift more to that once it’s time.”

Polymarket was prohibited from doing business in this nation after a regulatory dispute with the Commodities Futures Trading Commission (CFTC) in 2022. After resolving those problems, the company announced in June that it would buy clearinghouse and derivatives exchange QCEX LLC for $112 million, opening the door for the buyer to reenter the US market.

Polymarket Token Debut Signs Are Abundant

The POLY token rumors come just weeks after Shayne Coplan's business secured a $2 billion investment from Intercontinental Exchange (NYSE: ICE), which values Polymarket at $9 billion to $10 billion post-money. There are also rumors that the company's next funding round could increase its valuation to $12 billion to $15 billion.

There have been indications that Polymarket, a corporation currently heavily involved in cryptocurrency, may eventually launch its own digital currency. In cryptocurrency circles, a recent filing with the Securities and Exchange Commission (SEC) sparked rumors that the supplier of event contracts was getting closer to introducing a token.

The word "other warrants," which refers to investors' options and rights to purchase other securities, was introduced in that document, building on language from earlier filings that stated investors would have access to stock and conventional warrants. The language in the most recent SEC filing was seen in the cryptocurrency community as an indication that Polymarket is preparing a coin of its own.

POLY's precise features and whether it will trade on the Ethereum or Solana blockchains are yet unknown.

POLY Airdrop Might Be Massive

The precise date of Polymarket's US reentry is unknown, although it might be near because the company has a wait list and is seeking beta testers. These might indicate that it's time for cryptocurrency enthusiasts to keep up with airdrop events.

"A crypto airdrop is an activity typically performed by blockchain-based startups to help bootstrap a virtual currency project. Its aim is to spread awareness about the cryptocurrency project and to encourage more people to participate in it when it becomes available. Airdrops are generally communicated through the company’s official channels and cryptocurrency communities,” according to Coinbase.

The most active members of the underlying community are usually the recipients of the largest shares of airdrops, suggesting that the most active traders on the platform are those who receive the most POLY. However, this is simply conjecture at this time.