Prediction market platform Polymarket has acquired Brahma, a crypto payments and DeFi infrastructure startup, in a deal of undisclosed value. The acquisition is expected to enhance Polymarket’s user experience and draw more capital into contracts that currently see little trading activity.
Brahma was founded in 2021 and has processed over $1 billion in transactions, focusing on decentralized finance infrastructure. By integrating Brahma’s technology, Polymarket aims to reduce friction points including wallet creation, depositing funds, converting shares, and redeeming outcome tokens — steps that currently create barriers for users unfamiliar with crypto infrastructure.
Currently, most of Polymarket’s trading volume is concentrated around high-profile events like elections and major sports contests. Lower-profile wagers attract far less liquidity, creating slippage that reduces returns for users. Brahma’s background in DeFi infrastructure could help draw capital into these thinner markets.
Brahma co-founder Alessandro Tenconi said his startup could reduce friction across several points in the Polymarket experience. Brahma has prior experience with consumer-facing crypto products; last year, Euler Labs partnered with Brahma to launch Swype.fun, a credit card designed to let users spend crypto in real-world transactions.
Polymarket is also pursuing growth through fundraising. The Wall Street Journal reported earlier this month that the platform is seeking to raise capital at a $20 billion valuation.
Source: CoinMarketCap Academy
