Polymarket Acquires Crypto Infrastructure Firm Brahma

BlockBeats News, March 18th, Polymarket announced the acquisition of the crypto infrastructure startup Brahma to expand its crypto and DeFi infrastructure scale, with the acquisition amount undisclosed.

Founded in 2021, Brahma mainly provides DeFi infrastructure services to enterprises and individuals, with a total transaction volume of over $1 billion. After joining Polymarket, Brahma will terminate existing projects with other partners.

Polymarket CEO Shayne Coplan stated that the Brahma team has the ability to design, operate, and scale complex products. Polymarket is currently rumored to be valued at $20 billion and, unlike its main competitor Kalshi, who mainly relies on fiat systems, Polymarket has always operated based on blockchain architecture since its inception.