BlockBeats news, October 6 — Polymarket has launched Polymarket Protocol V2, its next-generation prediction market smart contract system, rebuilding the underlying architecture of its existing protocol. The current protocol is based on the 2019 Gnosis Conditional Tokens Framework, where each additional market type requires deploying extra adapters, trading contracts, and authorization processes; V2 instead unifies around a single ERC1155 position token contract, pUSD collateral asset, exchange contract, and router.
V2 adopts a modular architecture, initially supporting binary, atomic negative risk, incremental negative risk, and combinatorial markets, and connects UMA, Chainlink, and future additional oracles through a new OracleAggregator. The protocol also natively supports cross-chain positions, collateral assets, and settlement outcomes, laying the foundation for subsequent multi-chain deployment; all contracts can be upgraded under a secure governance process.
V2 has undergone audits by Cantina, Certora, Quantstamp, SigmaPrime, Zellic, and Pashov, and has completed formal verification by Certora, with critical bug bounties of up to $5 million. Polymarket will run a small number of grayscale markets in the production environment from October 5 to 30, and tentatively plans to switch new markets to V2 starting November 2, while also launching Data API V2 built on Rust and an internal on-chain indexer.

