Polymarket is considering the issuance of its own stablecoin to control the platform's USDC reserve earnings.

[Polymarket considers issuing its own stablecoin to control platform USDC reserve earnings] According to informed sources, the encryption prediction market platform Polymarket is evaluating the possibility of launching its own stablecoin, with the aim of controlling the earnings from the substantial reserve funds backed by Circle's USDC. Currently, the platform has not made a final decision and is also weighing the option of reaching a revenue-sharing protocol with Circle. Since the Polymarket ecosystem is closed, it only needs to implement the exchange between USDC and its customized stablecoin, without facing the compliance issues of "deposit and withdrawal," making the issuance of stablecoins more feasible both technically and regulatory-wise. With the recent passage of stablecoin-related legislation in the United States, the issuance of stablecoins has become a new profit point for encryption companies and traditional financial institutions. During the US elections last year, the Polymarket platform had a betting volume of up to $8 billion, with 15.9 million visits in May. The company is currently looking to re-enter the US market by acquiring the US exchange QCEX. Previously, Polymarket faced civil and criminal investigations for allowing US users to place bets, which have now been closed.