Polymarket Launches Major Protocol Upgrade With Streamlined Smart Contract Architecture

Polymarket has released a significant upgrade to its platform infrastructure, transitioning from its previous Gnosis-based system to a unified ERC-1155 positions contract. The V2 rollout introduces pUSD as the new collateral mechanism for the prediction market platform. This modernization aims to simplify the technical foundation while maintaining the platform's core prediction market functionality.

Polymarket has restructured its technical infrastructure through a major protocol update designed to streamline platform operations. The migration shifts the platform's underlying architecture to incorporate a unified smart contract framework based on the ERC-1155 standard, a widely-used token specification that allows efficient handling of multiple asset types within a single contract. Simultaneously, the platform has introduced pUSD as its collateral standard, replacing previous mechanisms used to back prediction market positions.

This V2 release represents a modernization effort aimed at reducing complexity in how the platform manages user positions and transactions. By consolidating its smart contract architecture, Polymarket intends to maintain its core functionality—enabling users to trade prediction market contracts on event outcomes—while potentially improving operational efficiency and user experience through a more unified technical framework.