Polymarket acquires crypto startup Brahma as prediction platform looks to boost liquidity: Fortune

Prediction market platform Polymarket has acquired the crypto payments startup Brahma, according to a Fortune report. While the deal's value was undisclosed, Polymarket expects the acquisition to significantly improve the user experience and bolster liquidity, particularly for lower-profile or niche wagers that struggle to attract large capital pools.

Brahma's expertise in DeFi, characterized by rapid trading and high-risk tolerance users, is intended to draw additional capital into these thinly traded contracts, mitigating slippage losses for users. Brahma's co-founder, Alessandro Tenconi, noted that his startup can reduce friction for Polymarket users related to wallet creation, depositing, and token redemption.

Brahma, founded in 2021, has processed over $1 billion in transactions. This development follows a report that Polymarket is exploring a new fundraising round at a $20 billion valuation.

(Source：The Block)