Polymarket, the leading blockchain-based prediction market platform, recently filed a regulatory document with the U.S. Securities and Exchange Commission (SEC) that has ignited widespread speculation about an upcoming native token launch.
The filing, dated around mid-September 2025, pertains to the company’s latest funding round and introduces a new category of financial instruments: “other warrants.” In the crypto industry, these warrants are often structured as rights to acquire tokens, a mechanism famously used by projects like dYdX prior to their token debuts.
Prior SEC filings from Polymarket’s parent company, Blockratize, only referenced traditional equity and warrants, making this addition a notable shift that signals potential preparations for tokenization. The filing coincides with Polymarket raising approximately $135 million in fresh capital, pushing discussions of a $10 billion valuation—up from $1 billion earlier in the year.
The rollout began in September 2025, aligning with the start of earnings season, and builds on Polymarket’s recent tie-up with Chainlink for 15-minute markets with near-instant settlements. This move marks Polymarket’s deeper push into regulated U.S. markets, following a favorable stance from the Commodity Futures Trading Commission (CFTC) and after earlier regulatory hurdles that led to a temporary U.S. user ban.
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While Polymarket has not officially confirmed a token launch, industry observers interpret the warrants as a deliberate hint at token-linked incentives, which could reward users, enhance liquidity, or enable governance features. This move aligns with the platform’s aggressive expansion, including its recent CFTC approval to relaunch operations in the U.S. after a brief hiatus.
Polymarket, founded in 2020, has evolved from a decentralized Polygon-based platform using USDC for bets on events like elections to a compliant powerhouse, backed by investors like Polychain Capital, General Catalyst, Founders Fund, and even Vitalik Buterin. The prediction market sector is booming, with $216M raised across 11 deals in 2025 alone.
Social media buzz on X has amplified the rumors, with users and analysts drawing parallels to past token launches and debating the implications for prediction markets. For instance, posts highlight how a token could “supercharge adoption” but warn of regulatory hurdles from the SEC.
Launch of Earnings Markets
In parallel, Polymarket has launched new prediction markets focused on corporate earnings reports, marking a strategic pivot from its election-heavy origins to more recurring, TradFi-adjacent trading.
These markets allow users to bet on outcomes like whether a company’s earnings per share (EPS) will beat, meet, or miss analyst expectations, with probabilities updating in real-time during earnings cycles.
Near-instant settlement: Powered by Chainlink oracles for 15-minute resolutions on select events. Integration with platforms: Embedded directly into Stocktwits ticker pages for seamless access, where users see live odds alongside stock discussions.
Targets analysts, hedge funds, and retail traders hedging against earnings volatility, potentially driving year-round volume beyond sporadic events like elections. This rollout follows Polymarket’s U.S. relaunch and partnerships, positioning it to capture flows from traditional finance.
During the Q3 2025 earnings season, expect heightened activity around reports from tech giants like Apple or Tesla, with initial volumes already showing promise in beta tests. Overall, these developments suggest Polymarket is evolving from a crypto novelty into a hybrid finance tool.
A token launch could accelerate this, but it hinges on navigating U.S. regulations—watch for official announcements in the coming weeks.