Polymarket is postponing the launch of its token until after securing a US-focused app release. The Chief Marketing Officer, Matthew Modabber, highlighted that prioritizing the US Polymarket app, given regulatory hurdles and the project’s five-year development history, is paramount before considering a tokenization strategy. A recent $2 billion investment from Intercontinental Exchange (ICE), parent company of the New York Stock Exchange, fueled this decision. Modabber explained the rationale for focusing on the US market: ‘Why rush a token if you need to prioritize the US app? We’ve been dying for this app for the past five years. A lot has happened because of this, you know, because there’s regulatory [issues] and whatnot.’ The company’s recent surge in popularity, which saw it become mainstream in 2024, attracting users previously unfamiliar with crypto, is attributed to its prediction market platform. The rise in the adoption of prediction markets led to significant growth in trading volume during the 2024 US elections. Companies like Polymarket and Kalshi are now seeing increased traction from sports betting platforms that lack the necessary infrastructure for onchain collateral, which could pose a challenge for handling large-scale trading. Polymarket is currently in talks with organizations such as the NHL to expand its reach, while Kalshi is rumored to be securing investments for global expansion into 140 countries. The company recently inked a deal with DraftKings to provide clearinghouse services, further solidifying its position in the market. This agreement highlights how prediction markets are being integrated into established platforms like sports betting companies, showcasing their increasing relevance and potential impact on financial markets.