Polymarket has announced the most significant overhaul of its exchange infrastructure since launch, unveiling CTF Exchange V2 alongside a new collateral token and rebuilt order book in a multi-week rollout beginning this week.
We've heard your feedback, and we're excited to announce Polymarket is getting a full exchange upgrade.
— Polymarket (@Polymarket) April 6, 2026
Over the next few weeks, we're rolling out a rebuilt trading engine, upgraded smart contracts, and a new collateral token (Polymarket USD) to move off USDC.e. ?
The platform, which has consistently processed over $900 million in weekly trading volume with roughly $416 million in total value locked, is migrating from bridged USDC.e to a proprietary stablecoin called Polymarket USD, backed 1:1 by Circle's USDC and issued directly by Polymarket. The shift removes the platform's dependence on bridged collateral and follows an earlier partnership with Circle announced in early 2026.
Polymarket USD is a collateral instrument only (not a tradeable asset) and is separate from POLY, the platform's long-rumored governance token. The POLY airdrop, confirmed by Polymarket's CMO in October 2025, remains contingent on a full U.S. relaunch and is not addressed in this upgrade.
What Changes
CTF Exchange V2, the platform's upgraded core contract, introduces an optimized and simplified order struct, faster order matching, EIP-1271 signature support for smart contract wallets and account abstraction, builder codes enabling onchain order attribution, and redesigned fee collection logic. The changes are expected to reduce gas costs and improve performance on Polygon.
The rebuilt Central Limit Order Book, CLOB v2, will replace the current system. A new CLOB-Client SDK, available in TypeScript, Python, and Go, will handle the V1-to-V2 transition automatically for integrations running the latest version. Developers running custom bots or headless integrations will need to update their SDK and re-sign orders with the new struct.
Migration Details
All existing open orders will be cancelled during a short maintenance window. Polymarket has pledged at least one week of advance notice before the cutover, with a full rollout expected over two to three weeks from the April 6 announcement. A migration guide and full API changelog are forthcoming; developers can access early testing through Polymarket's Discord dev channels.
For most users, the transition requires only a one-time approval prompt on the frontend—the system handles wrapping automatically. Power users and API-only traders will need to call the wrap() function on the Collateral Onramp contract to convert existing USDC or USDC.e holdings.
Institutional Angle
The addition of EIP-1271 support is notable for institutional and algorithmic traders using smart contract wallets or multi-sig setups, removing a compatibility barrier that has limited certain DeFi-native strategies on the platform. Builder codes for onchain order attribution could also unlock more sophisticated analytics and tracking for professional participants.
The upgrade comes weeks after Intercontinental Exchange, parent company of the New York Stock Exchange, announced an additional $600 million investment in Polymarket, building on a commitment of up to $1 billion first disclosed in October 2025.
