Polymarket may be looking to issue its own stablecoin to users of its prediction platform, according to a recent report from CoinDesk.
The crypto-fueled prediction market exchange is, according to the report, considering either launching its own stablecoin or entering a revenue-sharing agreement with Circle Internet Financial, whose USDC stablecoin Polymarket currently uses for all trader transactions.
Either path would provide more revenue for Polymarket, which recently purchased CFTC-approved prediction platform QCEX and its clearinghouse, setting the stage for its re-entry into the U.S.
JUST IN: 🚨 Polymarket is considering launching its own stablecoin. pic.twitter.com/bSqlJmpxfo
— CoinDesk (@CoinDesk) July 22, 2025
Revenue-sharing deal with Circle also possibility
With its own custom stablecoin, Polymarket would own the coins’ yield-generating reserves that generate passive income through interest and fees. Circle currently receives the yield generated from the reserves backing USDC used at Polymarket, but it has previously entered into revenue-sharing deals with crypto exchanges like Coinbase, Binance and, most recently, Bybit.
The Coindesk report cites a “person familiar with the plans,” who told the outlet:
“Polymarket is locking a lot of stablecoin value in their betting pools and so they want some kind of mechanism to get the yield. In the case of Polymarket, it’s a closed ecosystem and all they really need to do is to be able to exchange USDC or USDT into whatever their custom stablecoin is. They don’t have to worry about the last mile on ramp and off ramp. That’s a very simple thing to build, and easy to secure and control.”
A Polymarket representative told CoinDesk that no decision has been made on a custom stablecoin launch, and Circle did not offer a comment on the revenue-sharing concept.
Polymarket set for a smooth U.S. market re-entry
Polymarket is poised to make a big splash when it returns and becomes legally available to U.S. users, providing ample competition to leading U.S. prediction market exchange Kalshi. Polymarket left the U.S. in 2022 as part of a settlement with the Commodity Futures Trading Commission (CFTC), which also fined Polymarket $1.4 million for offering prediction markets in the U.S. without CFTC approval.
Polymarket notched another big win recently when the Department of Justice announced it had ended its investigations into the platform related to allegations that U.S. users could still trade on Polymarket using VPNs.
Polymarket will also see benefits — particularly if it develops its own stablecoin — from the recent passing of the GENIUS Act in Congress. The Genius Act, which President Donald Trump signed into law on July 18, creates a regulatory framework for stablecoin, providing stability and legitimacy while also, many say, stoking innovation and growth in the industry.
The Digital Asset Market Clarity Act, which was recently passed in the House and is currently working its way through the Senate, would further help the crypto industry by establishing a clearer regulatory framework for digital assets like crypto, potentially giving CFTC oversight of digital commodities used on exchanges.
Revenue boost likely with U.S. return
The past week or so of good news for Polymarket and the increasingly favorable climate for prediction markets and the crypto industry under the Trump administration sets the stage for a potentially lucrative return to the U.S. Unlike Kalshi, Polymarket currently does not charge trading fees upfront, only taking a 2% fee on earnings from winning trades.
With the inevitable boost in traders and trading volume for the platform, a proprietary stablecoin or revenue-sharing deal with Circle could potentially lift Polymarket’s profits substantially. Reports in June said Polymarket had completed a $200 million funding round that put its valuation at over $1 billion.
