Polymarket Unveils Protocol V2, Targets Full Mainnet…
By Karthik Subramanian
AI summary of the source article
Polymarket has announced Protocol V2, updating its core onchain prediction-market architecture with a planned full mainnet switchover on November 2. The upgrade introduces new smart contracts to enhance how positions are created, traded, and settled amid rising volumes in election, economic, and crypto event markets. Rather than an abrupt transition, Polymarket is conducting a phased migration to let developers and market makers adjust quoting systems, avoid fragmented liquidity, and maintain existing V1 claims. While Polymarket previously settled with the CFTC and later acquired the regulated exchange QCX/QCEX, Protocol V2 represents an operational infrastructure change rather than a new regulatory authorization.
Why it matters
The upgrade requires market makers and integrated applications to adapt to new smart contracts, transaction flows, and market identifiers ahead of the November 2 deadline to maintain liquidity and trading execution.
Key facts
- Polymarket is targeting November 2 for a full mainnet switchover to Protocol V2.
- The migration is staged so that existing V1 claims and redemption functionality remain valid as trading shifts to V2.
- Polymarket previously settled with the CFTC in 2022 and later acquired CFTC-regulated exchange and clearing operation QCX/QCEX.