Polymarket's full exchange upgrade - introducing Polymarket USD While users were speculating about a native chain or a native token, On April 6, @Polymarket announced what it calls its largest infrastructure upgrade since launch. This rollout will replace core components of its trading stack over the next few weeks. The key changes: 1. A new order book and matching engine > Polymarket’s CTF Exchange V2 rebuilds the platform's central limit order book (CLOB) system. > The update introduces support for EIP-1271 signatures - smart contract wallets to interact more smoothly with the exchange. > For traders and their bots, this means: - faster order execution - more efficient matching - improved API and SDK support (TypeScript, Python, Go) 2. Polymarket USD replaces bridged USDC > Previously, most trading relied on USDC.e, a bridged version of USDC on Polygon. > The new Polymarket USD (PUSD) replaces it as the platform's collateral token. > This shift appears to aim at reducing bridge-related risk and removing some of the operational friction the old setup relied on. > At the same time, it gives Polymarket tighter control over settlement and liquidity. The tradeoff is obvious: Less reliance on external infrastructure, but more centralised control over the settlement layer. 3. Maintenance reset and infrastructure migration > Because the order book architecture is changing, existing orders will be cleared during a short maintenance window. > Bots and API users will need to update to the latest CLOB client SDK and sign new orders using the new order structure. > For regular users, this will likely appear as a brief pause while the backend migrates. > Note: This reset might also level the playing field for bots temporarily. > Because when the order book wipes: - Market makers must rebuild liquidity - Trading algorithms recalculate - Spreads can briefly widen Closing thoughts: Polymarket, which began as a relatively simple experiment, now positions itself more like a traditional exchange. As it rebuilds its presence in the U.S., the upgraded infrastructure reflects its vision. Many industry voices see the upgrade as preparation for higher trading volume, while others are debating the "fiat collateral irony" of introducing another stablecoin layer. Polymarket has already processed tens of billions in cumulative trading volume, making it the dominant prediction market in crypto. Infrastructure improvements - like faster matching and cleaner collateral management suggest - the platform might be preparing for larger liquidity pools and heavier automated trading. The upgrade also subtly strengthens the case for a future $POLY token. While no official announcement has been made, the community widely expects a token tied to governance or incentives. Taken together, these changes suggest Polymarket is gradually centralising more control over the mechanics of trading as it scales.