Polymarket is considering issuing its own stablecoin to control the platform's USDC reserve income

Odaily Planet Daily News: According to insiders, the cryptocurrency prediction market platform Polymarket is evaluating the possibility of launching its own stablecoin, with the aim of controlling the profits brought by the high reserve funds supported by Circle's USDC. At present, the platform has not made a final decision and is also weighing options to reach a revenue sharing agreement with Circle. Due to the closed nature of the Polymarket ecosystem, only the exchange between USDC and its customized stablecoins needs to be implemented, without facing the compliance challenges of "deposit and withdrawal", making the issuance of stablecoins more feasible in terms of technology and regulation. With the recent passage of stablecoin related legislation in the United States, issuing stablecoins has become a new profit point in the eyes of cryptocurrency companies and traditional financial institutions. During last year's US election, the Polymarket platform placed bets worth up to $8 billion and received 15.9 million visits in May. At present, the company is returning to the US market by acquiring the US exchange QCEX. Previously, Polymarket was under civil and criminal investigation for allowing American users to place bets, and the case has now been closed.