Polymarket to Undergo Upgrade on April 28th: Collateral Assets to Move to pUSD, Trading to Pause for Approximately 1 Hour

BlockBeats News, April 27th, Polymarket announced that it will conduct a trading platform upgrade on April 28, 2026, around 19:00 UTC. During this period, trading will be paused for approximately 1 hour. This upgrade will include the new generation trading contract (CTF Exchange V2), order book refactoring, and the introduction of a new collateral token system.

After the upgrade, the platform will migrate from USDC.e to a new collateral token called pUSD (Polymarket USD), which is an ERC-20 asset on Polygon and is backed 1:1 on-chain by USDC. The protocol will still settle in native USDC to improve capital efficiency and scalability.

Most users will not need to take any additional actions as the frontend will automatically handle the migration with just one approval needed. During the upgrade process, all existing order books will be cleared, requiring users to place new orders after the upgrade, but account balances will be automatically carried over. The new architecture optimizes order matching, fee calculation, and lifecycle management, reduces gas costs, and resolves past transaction failures caused by nonce and balance checks. The new contract has been audited by Cantina and Quantstamp, and the code is open-source with a bug bounty program.