Blockratize Inc., the parent company of the popular decentralized prediction market Polymarket, has filed trademark applications for "POLY" and "$POLY," sparking fresh speculation that a token launch and airdrop are imminent.

According to filings with the United States Patent and Trademark Office (USPTO), the applications were submitted on Feb. 4, 2026. 

This development aligns with previous comments from Polymarket leadership. In October 2025, CMO Matthew Modabber confirmed that the platform intends to launch a token and conduct an airdrop, though he emphasized that a successful relaunch in the U.S. market was the company's immediate priority.

Modabber referenced the Hyperliquid airdrop as a formula Polymarket could follow. That distribution, which allocated $1.6 billion in tokens based on protocol usage, saw some of the platform’s most active traders receive airdrops worth millions of dollars.

Why It Matters

Predictions markets have been booming, while the rest of the crypto ecosystem has been sliding. 

Speculation of a retroactive airdrop has driven massive liquidity to the platform. Users have been aggressively trading in hopes that volume will be a key eligibility criterion for receiving $POLY tokens.

The move follows a massive $2 billion investment from Intercontinental Exchange Inc (NYSE:ICE), the parent company of the New York Stock Exchange, valuing Polymarket at nearly $9 billion.

In a concurrent move toward professionalization, Polymarket recently partnered with Circle to transition from bridged USDC to native USDC, reducing settlement risk for institutional participants.

Regulatory Headwinds Remain

Despite its growth and institutional backing, Polymarket faces legal and regulatory challenges that could impact any token launch timeline.

In January 2022, Polymarket paid a $1.4 million settlement to the Commodity Futures Trading Commission (CFTC) and ceased U.S. operations after the regulator found it had operated an unregistered derivatives exchange.

The company was recently hit with a nationwide class action lawsuit alleging it operates an illegal gambling platform. 

More broadly, prediction markets are facing increasing regulatory scrutiny, and may face new stricter rules. 

These legal issues add complexity to any potential token launch, particularly if Polymarket intends to distribute tokens to U.S. users. Token distributions to U.S. persons can trigger securities law concerns, and the pending litigation creates additional uncertainty around regulatory compliance.

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