coindesk.com
Prediction markets platform Polymarket announced Wednesday the acquisition of Brahma, a financial infrastructure company that built real-time execution and settlement systems for high-volume digital asset and fintech transactions.
"[Brahma has] quickly become an industry leader in building and developing programmable systems across blockchain systems, trading execution, and payments," said Polymarket in a press release sent via email.
“Building reliable infrastructure across blockchain networks and traditional financial rails is hard — there are no shortcuts,” said Shayne Coplan, Polymarket CEO and founder.
“The Brahma team has shown they can design, operate, and scale complex products for sophisticated users,” he added. “As Polymarket grows, we’re intentionally adding teams that have already solved difficult problems and can execute at a very high level.”
A Polymarket spokesperson told CoinDesk the terms of the agreement are not being disclosed.
Brahma also released a statement Wednesday saying Polymarket acquired its DeFi infrastructure to bring its team and technology into the prediction market company as it seeks to scale its infrastructure suite.
“With this acquisition, our team and our technology live on, to help scale Polymarket and its ecosystem,” the Brahma team said in a post on X. “Our mission to build at the core of crypto continues.”
The acquisition brings Brahma’s team and technology into Polymarket, where they will focus on expanding the platform’s infrastructure and product suite. It also appears aimed at improving
Earlier this month, reports emerged that Polymarket was discussing potential fundraising rounds that could double 2025 valuation to about $20 billion. The discussions remain early and may not lead to finalized investments.
Prediction markets allow users to trade contracts tied to real-world events, including sports, politics and elections. Traders buy and sell contracts based on expected outcomes. The sector has grown significantly, with companies including Coinbase and Robinhood entering the space.
Brahma said it has processed more than $1 billion in transaction volume and over $100 million in total value locked. The company also said that all of its products, including Brahma Accounts, Agents and Swype.fun, will be phased out within 30 days. Users have been instructed to migrate funds and positions via its website and community channels.