Prediction market platform Polymarket is reportedly considering an initial public offering and the launch of a blockchain-based native token as its main options for future fundraising and business expansion, according to a Bloomberg report published on 13 October 2026. The company has not formally announced either an IPO or a token issuance, and no timetable has been disclosed.
The report sets out two different routes to capital. A listing would place Polymarket within traditional financial markets, while a token would give it an on-chain funding and utility mechanism. The two options are not presented as mutually exclusive. The company could list shares while also introducing a separate on-chain asset with functions on its platform.
Interest in a possible token has grown following comments from management. Speaking at the TOKEN2049 conference in Singapore on 7 October 2026, Polymarket’s chief executive said the company is reviewing on-chain assets with practical programming functionality. This points towards a token designed to perform specific roles within the platform rather than one intended only as a trading asset. Polymarket has stated that it has never announced plans for an airdrop or a token generation event (TGE).
Valuation and revenue trajectory
Polymarket’s valuation has risen quickly over a short period. The company was valued at about USD 9 billion in 2025, following a strategic investment from Intercontinental Exchange, the parent company of the New York Stock Exchange. A fundraising round in April 2026 raised that figure to about USD 15 billion. By August 2026, market speculation suggested that investment talks were taking place at a valuation above USD 20 billion.
Revenue figures have followed a similar path. Polymarket’s annualised revenue is reported to be well above USD 1 billion. Over one recent weekend, the platform generated about USD 9.9 million in revenue, compared with roughly USD 2.64 million for Hyperliquid over the same period.
Regulatory groundwork in the US
Polymarket’s efforts to strengthen regulatory compliance in the US are seen as supporting the case for a public listing. The company acquired QCEX to operate under the oversight of the US Commodity Futures Trading Commission (CFTC) and has launched Polymarket US for the American market. It has also recruited senior executives from traditional finance, which is widely interpreted as preparation for a future stock market listing.
Taken together, a CFTC-supervised US entity, ties to a major exchange operator through Intercontinental Exchange’s investment, and a possible on-chain asset reflect a model that combines regulated market infrastructure with crypto-native tools. A dual approach, if pursued, would add Polymarket to the crypto companies seeking capital through both traditional equity markets and on-chain mechanisms.
