Polymarket buys DeFi startup Brahma to advance smart finance at scale
Polymarket acquired Brahma to enhance its DeFi capabilities and improve user experience with streamlined financial tools.Summary
Polymarket, a leading prediction market platform, has acquired Brahma, a DeFi asset management tools provider, to scale its DeFi offerings and improve its platform. Brahma’s products will be sunsetted within 30 days, but its team and technology will be integrated into Polymarket to simplify wallet setup, deposits, and token redemptions, and increase liquidity. This acquisition follows Polymarket’s previous expansions through the Dome and Lunch acquisitions. Polymarket is also collaborating with Palantir Technologies and TWG AI to implement an AI-powered surveillance and compliance system, aiming for a fully regulated trading venue under the Commodity Futures Trading Commission. The company, along with competitor Kalshi, is exploring fundraising opportunities that could value them near $20 billion.
(Source：Crypto Briefing)