Polymarket, a blockchain-based prediction market platform, is considering launching its own token as it seeks to raise over $50 million in new funding. The New York-based startup aims to leverage the token to validate outcomes of real-world events. Investors in this funding round would receive warrants entitling them to buy the tokens if Polymarket proceeds with the issuance. The potential token launch comes amid a surge in election wagering, with Polymarket experiencing record adoption and nearly $1 billion in wagers. The platform is looking to raise $50 million+ to support its crypto betting platform.