Polymarket is reportedly considering issuing its own stablecoin to control the platform's USDC reserve income

Planet Daily News: According to informed sources, the crypto prediction market platform Polymarket is evaluating the possibility of launching its own stablecoin, with the aim of capturing the revenue from the high reserves backed by Circle's USDC. Currently, the platform has not made a final decision and is also weighing the option of reaching a revenue-sharing agreement with Circle. Since Polymarket's ecosystem is closed, it only needs to achieve exchange between USDC and its custom stablecoin, avoiding the compliance challenges of "deposits and withdrawals", making the issuance of a stablecoin more feasible in terms of technology and regulation. With recent U.S. legislation on stablecoins, issuing a stablecoin has become a new profit point for crypto companies and traditional financial institutions. During last year's U.S. election, Polymarket's platform saw betting amounts reaching $8 billion, with 15.9 million visits in May. The company is currently acquiring the U.S. exchange QCEX to return to the U.S. market. Previously, Polymarket faced civil and criminal investigations for allowing U.S. users to bet, but the case has now been closed.