Polymarket V2 began canary testing on October 5 through a limited set of live markets. The testing period runs through October 30. All new markets switch to V2 on November 2, according to documentation published October 6 by the prediction market platform.
Protocol V2 documentation describes cross-chain capabilities using Chainlink CCIP for transport. Position tokens and collateral are "designed to support transferring" between blockchains. Polygon remains the only network at launch. No timeline was announced for expansion to other chains.
The November 2 migration concerns new Polymarket V2 markets on Polygon and does not announce trading on additional networks. This mirrors the design pattern seen in wrapped token bridges, where infrastructure for cross-chain transfers exists before secondary chains go live.
Single collateral and oracle changes
V2 adopts pUSD as the common collateral token. The ERC-20 wraps USDC and USDC.e at a 1:1 ratio through an external vault. This replaces the legacy Gnosis CTF adapters that required different assets depending on market type.
Position information now encodes directly into token IDs. The ID includes module, condition, and outcome data. Existing positions built on the Gnosis Conditional Tokens Framework stay on V1 and will not migrate automatically.
The new OracleAggregator connects multiple oracle providers to determine market outcomes. UMA Optimistic Oracle integration launched at V2. Chainlink Data Streams handle price-based resolution. Polymarket V2 used UMA exclusively before this upgrade.
The aggregator layer allows future oracle modules to plug in without changing the core contract. This follows the oracle modularization pattern seen in DeFi protocols that separated pricing logic from execution.
Security and migration friction
Cantina, Quantstamp, and Zellic completed audits of Polymarket V2. Certora performed formal verification. A bug bounty offers up to $5 million for critical vulnerabilities, hosted on Cantina's platform. No start date or scope details were published beyond "critical vulnerabilities."
Frontend users see automatic pUSD conversion after a one-time approval. API traders must manually update integrations for Polymarket V2. EIP-712 domain updates are required for signature-based operations. The V1 Data API shuts down October 24, nine days before the full switchover.
Order books reset during the November 2 migration. All open limit orders are wiped. The deployment causes roughly one hour of downtime, the platform stated. Users interacting with V2 markets face new approval prompts because the contracts changed.
Four initial modules launch with Polymarket V2: binary markets, atomic negative-risk markets, incremental negative-risk markets, and combinatorial markets. The single-contract architecture supports all four without additional deployment per type, similar to how automated market makers unified liquidity provision under one formula.