Polymarket Starts Protocol V2 Rollout, Targets Nov. 2 Switch for New Markets
Polymarket began canary trading on rebuilt Protocol V2 contracts, with new markets tentatively set to move to V2 on Nov. 2 while existing Conditional Tokens Framework positions stay put.
Why it matters
Integrators and market makers have to run both the old Conditional Tokens Framework and the new V2 contracts through the switchover, and Polymarket has set no date for moving existing holdings or turning on cross-chain transfers. Nov. 2 covers only newly created markets, so the older framework stays in service after the rollout date.
Key facts
Polymarket began rolling out Protocol V2 on Oct. 5, 2026, with a small set of canary markets trading on the new contracts in production.
Reported by Unchained
The canary markets are scheduled to keep running through Oct. 30.
Reported by Unchained
Newly created markets are tentatively scheduled to move to Protocol V2 on Nov. 2, 2026.
Disputed figureReported by Unchained
CryptoSlate reports Polymarket's migration guidance leaves existing Conditional Tokens Framework positions in place and requires a separate migration that Polymarket must register first.
Disputed figureReported by CryptoSlate
The current Polymarket contracts were built on Gnosis's Conditional Tokens Framework, released in 2019, with extra contracts and adapters stacked on top for later market types.
Reported by Unchained
Protocol V2 consolidates positions into a single ERC-1155 contract, uses one exchange for all market types and one router, and makes pUSD the only collateral.
Reported by Unchained
Cointelegraph reports the protocol is designed to transfer positions, collateral and market outcome data between blockchains, but Polymarket has not announced a launch date or target networks.
Reported by Cointelegraph
What happened
Polymarket's head of protocol, Rajath Alex, announced on Oct. 5 that the platform is replacing the smart contracts its prediction markets have run on since launch, describing V2 as a rebuild 'from the position token up' (Unchained). A small set of canary markets began trading on V2 in production that day and are scheduled to run through Oct. 30, with new markets tentatively set to move to V2 on Nov. 2 (Unchained, Cointelegraph, Bitcoinist). The old stack sat on Gnosis's Conditional Tokens Framework, general-purpose code released in 2019, with an adapter for pUSD collateral, a wrapped-collateral token, an extra exchange and a separate UMA adapter stacked in front of it for later market types; V2 collapses that into one ERC-1155 position contract, one exchange for all market types, one router and pUSD as the only collateral (Unchained, Cointelegraph). Cointelegraph reports that pUSD entered circulation in an April 2026 exchange upgrade and is backed 1:1 by Circle's USDC. CryptoSlate reports the rollout does not carry existing bets over, since Conditional Tokens Framework holdings stay in place and moving them needs a separate migration that Polymarket must register first, while trading integrations must keep CTF support alongside V2 position identifiers and separate buy-and-sell permissions. Cointelegraph says the protocol is designed to move positions, collateral and market outcome data between blockchains, but Polymarket has not said when that goes live or on which networks, and the Nov. 2 date is tentative.
How the story developed
- Official statement
Rajath Alex announces the Protocol V2 rebuild on X
The head of protocol described V2 as a rebuild 'from the position token up' and said a few live canary markets would run from Oct. 5 through Oct. 30, with Nov. 2 tentative for newly created markets.
- First report
First report by Unchained
Polymarket Rebuilds Its Core Smart Contracts With Protocol V2, Targets Nov. 2 Switchover
- Update
Unchained reports the V2 rollout and the Nov. 2 target
The first written report of the rebuild, covering the Conditional Tokens Framework background and the single ERC-1155 position contract.
- Independent corroboration
Independently corroborated by Cointelegraph
Polymarket overhauls smart contracts with new Protocol V2 rollout
- Update
Cointelegraph reports pUSD as sole collateral and cross-chain design
Adds that pUSD is backed 1:1 by USDC and that no launch date or networks have been announced for cross-chain transfers.
- Update
CryptoSlate reports that existing CTF positions do not move automatically
The report says moving older positions needs a separate migration registered by Polymarket and that trading integrations must keep CTF support while adding V2 identifiers and new permissions.
- Update
Bitcoinist summarizes the V2 architecture and testing schedule
Describes the consolidation of positions under a shared token framework and the reorganization of routing and oracle components, with canary testing through Oct. 30.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 6 Oct 2026, 10:05 UTC: Unchained — 1 independent source, 1 reports
- 6 Oct 2026, 12:54 UTC: Cointelegraph — 2 independent sources, 2 reports
- 7 Oct 2026, 13:30 UTC: CryptoSlate — 3 independent sources, 3 reports
- 7 Oct 2026, 21:00 UTC: Bitcoinist — 4 independent sources, 4 reports
Affected entities
Also mentioned: Bitcoin, U.S. Securities and Exchange Commission, United States, Vitalik Buterin, Base
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Unchained Crypto media | Polymarket Rebuilds Its Core Smart Contracts With Protocol V2, Targets Nov. 2 Switchover | Original | |
| Cointelegraph Crypto media | Polymarket overhauls smart contracts with new Protocol V2 rollout | Independent | |
| CryptoSlate Crypto media | Polymarket’s upgrade won’t automatically move existing bets to new contracts | Independent | |
| Bitcoinist Crypto media | Polymarket Rebuilds Its Core With Protocol V2 And pUSD Collateral | Independent |
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