Prediction markets platform Polymarket on Wednesday announced the acquisition of Brahma, a financial infrastructure company that has built real-time execution and settlement systems for high-volume digital asset and fintech transactions.
“[Brahma has] quickly becoming an industry leader in building and developing programmable systems spanning blockchain systems, transaction execution and payments,” Polymarket said in an emailed press release.
“Building reliable infrastructure on blockchain networks and traditional financial rails is difficult – there are no shortcuts,” said Shayne Coplan, CEO and founder of Polymarket.
“The Brahma team has shown that it can design, operate and scale complex products for sophisticated users,” he added. “As Polymarket grows, we intentionally add teams that have already solved difficult problems and can execute at a very high level. »
A Polymarket spokesperson told CoinDesk that terms of the deal were not disclosed.
Brahma also released a statement on Wednesday stating that Polymarket acquired its DeFi infrastructure to integrate its team and technology into the prediction market company as it seeks to scale its infrastructure suite.
“With this acquisition, our team and technology lives on, to help evolve Polymarket and its ecosystem,” the Brahma team said in an article on X. “Our mission to build at the heart of crypto continues.”
The acquisition brings Brahma’s team and technology to Polymarket, where they will focus on expanding the platform’s infrastructure and product suite. It also appears to aim to improve
Earlier this month, reports emerged that Polymarket was discussing possible fundraising that could double the valuation in 2025 to around $20 billion. Discussions remain preliminary and may not result in 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 the entry of companies such as Coinbase and Robinhood.
Brahma said it has processed over $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, would be phased out within 30 days. Users were asked to migrate their funds and positions through its website and community channels.
