Polymarket launched Protocol V2, replacing the contracts it has run on since launch. A few canary markets already trade on V2, and new markets are set to move over on November 2.

Polymarket was built on Gnosis’ 2019 Conditional Tokens Framework, and each new market type added another contract on top. V2 collapses that into one ERC-1155 positions contract, pUSD as the only collateral, one exchange and one router. It launches with four market types and an oracle aggregator for UMA and Chainlink.

Six firms audited the code, Certora formally verified it, and the bug bounty pays up to $5M. Users only need to accept new approvals. Old positions won’t be converted.

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