Polymarket unveils Protocol V2, with full switchover for new markets on Nov 2

Polymarket has unveiled Protocol V2, a new core architecture that will power every new market starting November 2.

The upgrade replaces the Gnosis Conditional Tokens Framework, which Polymarket has used since 2019.

What is actually changing

The rollout began on October 5, 2026, led by Polymarket’s developers and protocol head Rajath Alex. Polymarket is describing the new system as unified, modular and audited.

Every outcome share will now live in a single ERC-1155 positions token contract.

ERC-1155 is a token standard that lets one smart contract manage many different token types at once.

Under V2, pUSD becomes the only accepted form of collateral backing positions on the platform.

The protocol also introduces market-specific exchanges, paired with a router. The router sits in front and directs orders to the right place, which Polymarket says improves both user experience and operational efficiency.

The OracleAggregator makes oracles pluggable, supporting providers such as UMA and Chainlink. Rather than being locked into one way of deciding who won, Polymarket can now choose the resolution source that fits each market.

A cautious, staged rollout

Canary markets, a limited set of live test markets, run from October 5 through October 30.

On November 2, all new markets move to V2. Existing markets built on the Conditional Tokens Framework stay intact, so open positions are not being forcibly migrated mid-trade.

Developers get their own upgrade in Data API v2. It runs on an in-house on-chain indexer, which means Polymarket is now reading and organizing blockchain data itself rather than leaning on outside tools.

The new API offers standardized data formats and cursor-based pagination.

On security, six firms audited the protocol, Certora among them. Polymarket is also running a bug bounty that pays up to $5 million for critical vulnerabilities.

What this means for traders, builders and rivals

The pUSD-only collateral model concentrates everything on one asset, which simplifies accounting and settlement.

The pluggable oracle design supports providers like UMA and Chainlink on a market-by-market basis, giving Polymarket room to match the resolution method to the question.

For developers, Data API v2 provides standardized formats and dependable pagination, lowering the friction of building dashboards, trading tools and analytics on top of Polymarket data.

The dates to watch are October 30, when canary markets wrap, and November 2, when V2 takes over for all new markets.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.