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FollowingPolymarket releases version V2 of protocol: Rebuilding the foundation of smart contracts in the forecasting market
On October 5, 2026, Polymarket officially announced the launch of Polymarket Protocol V2. The upgrade is a complete reconstruction of the Gnosis Conditional Tokens Framework that the platform has used since 2019. The company said in its announcement that the new structure integrates multiple contracts that have been superimposed on the old framework over the years into a unified system, including a single position contract, a single mortgage token, a single exchange and a single route.
This is the most significant change at the Polymarket chain level since its launch. Previous designs required separate adapters for packaging collateral, risky markets, and each oracle; Protocol V2 uses a single ERC-1155 position contract, where each position ID directly encodes the market type, the market itself, and the result information, allowing the protocol to read structure directly from the identifier.
Main changes in Protocol V2
Modular design supports binary markets, atomic negative risk markets, incremental negative risk markets and combined markets, and reserves space for new market types in the future. The settlement process now runs through the new Oracle Aggregator, which supports pluggable modules and is compatible with UMA, Chainlink and future oracle services. Polymarket said this will broaden the design space for settlement of results.
The bridging feature is built into the position holding, collateral and settlement processes as a first-class citizen feature, although the company noted that multi-chain activation will be introduced at a later stage. In addition, the agreement itself also designs scalable mechanisms based on governance processes.
Security, Testing and Deployment Plan
Polymarket revealed that its code base has been subject to security audits by Cantina, Certora, Quantstamp, SigmaPrime, Zellic and Pashov, and has been formally verified by Certora. The platform has also established a vulnerability bounty program that rewards participants who discover critical vulnerabilities up to US$5 million.
To allow developers and market makers enough integration time, the platform will run Canary Markets in production from October 5 to October 30, and is expected to switch to a new architecture on November 2 to handle all new markets. This release also introduces Data API V2, a Rust service built on internal chain indexers that provides standardized responses and cursor-based paging capabilities.
What it means for Polymarket
This reorganization comes as Polymarket expands its product matrix. The platform recently launched perpetual contract transactions with up to 20 times leverage, and the new underlying architecture aims to support this broader product line with fewer integration approvals and lower architecture overhead.
However, the rollout is not yet completely over: the November 2 date is still tentative and the multi-chain bridging feature has not yet been activated. In addition, Polymarket continues to face regulatory pressure, including a lawsuit filed by New York State in late September alleging that the platform operates unlicensed gambling operations.
