Polymarket Now Accepts Solana Deposits for Prediction Market Wallet
Blockchain betting platform Polymarket has made an exciting announcement for its users – starting March 25, they can now make deposits to their wallet using Solana.
The platform shared the news in a recent post, informing users that they now have the option to add Solana (SOL) to their Polymarket wallet balances. This new feature adds Solana to the list of accepted tokens on the platform, alongside Ethereum (ETH), USDC (USDC), and Polygon (MATIC).
“Starting today, you can now make deposits into your Polymarket wallet using Solana,” announced Polymarket on their official account, welcoming the addition of SOL.
Traders on the platform expressed their enthusiasm for the new Solana deposit option, with many seeing it as a positive sign of recognition for Solana, especially after its recent addition to the U.S. digital stockpile. Some users praised Polymarket for making their lives easier with this new feature.
One trader commented, “Thank God I don’t have to use USDC anymore!” while another stated, “Smart, now I might actually use it.”
Although the markets on Polymarket are currently on Polygon, the addition of Solana as a deposit option has generated excitement among users.
When users sign up for Polymarket, they are given self-custody over their own Ethereum-based wallet, which can store funds used for betting on various prediction markets offered on the platform. While the Polymarket wallet primarily accepts USDC, it also supports MATIC, Ethereum, and now Solana as well.
Following the announcement of Solana deposits on Polymarket, SOL experienced a price boost, reaching as high as $143.14 shortly after the news was shared. Currently, SOL is trading at $139.66 with a 24-hour increase of 1.07%, and a market cap exceeding $71 billion.
According to data from Dune analytics, Polymarket’s daily trading volume stands at $27 million, with a recent spike to nearly $100 million on significant events like President Trump’s inauguration. With the addition of SOL, it will be interesting to see if Polymarket’s trading volume sees a further increase in the coming days.
Despite its growing popularity, Polymarket is facing regulatory challenges in some countries. Thai authorities have expressed concerns about the platform’s operations and may consider shutting it down as part of a crackdown on gambling activities. Polymarket is already banned in several countries including Taiwan, France, and Singapore.