Polymarket launches on Solana to enable SOL deposits

Web3 • March 24, 2025, 6:09PM EDT
UPDATED: March 24, 2025, 6:17PM EDT
The Block

Quick Take

  • Polymarket said it will now enable users to make SOL deposits.
  • The platform utilizes the Polygon network but primarily required deposits be made by converting to USDC stablecoins.

Polymarket will now enable users to make SOL deposits, the company said in a brief announcement posted Monday to X.

The crypto-based prediction platform uses the Polygon network and has, up until now, primarily required users to buy USDC stablecoins for deposits. Solana is the sixth most popular cryptocurrency by market cap, just ahead of USDC.

Polymarket's move to launch on Solana and allow SOL deposits is most likely designed in part to boost activity on the platform made popular during the U.S. presidential election. Polymarket hit 450,000 monthly active traders in January, but those numbers have since decreased slightly, according to The Block Data Dashboard.


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RT Watson profile picture RT Watson

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.

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To contact the editor of this story: Lawrence Lewitinn at [email protected]

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