Polymarket Buys Brahma to Bolster DeFi Infrastructure
Blockchain prediction markets platform Polymarket is acquiring Brahma, a crypto startup that provides decentralized finance (DeFi) infrastructure. “As part of this transition, our team will dedicate itself to evolving…
Polymarket has acquired Brahma, a crypto startup that builds decentralized finance infrastructure, in a move to strengthen its prediction market platform. Brahma announced that its team will shift focus to evolving Polymarket’s technology stack and product suite as part of the transition. Financial terms were not disclosed.
Founded in 2021, Brahma reports it has processed more than $1 billion in volume. Polymarket expects to leverage Brahma’s tooling to ease wallet creation, deposits and token redemptions, and to inject liquidity into niche or low-volume prediction markets.
Polymarket founder and CEO Shayne Coplan told Fortune that creating dependable infrastructure across blockchain networks and traditional financial rails is difficult and that Brahma’s team has demonstrated the ability to design, operate and scale complex products for sophisticated users.
Brahma will wind down its existing products over the next 30 days as the acquisition proceeds. Over four years the startup built three primary offerings: Strategy Vaults for automated DeFi strategies, Brahma Accounts which are smart accounts for DeFi users, and Swype.fun, a Visa card linked to DeFi positions for real-world spending.
Polymarket has been growing quickly alongside renewed interest in prediction markets. The company has been reported to carry a roughly $20 billion valuation, and its total value locked and trading volume have risen in recent months.
The acquisition continues Polymarket’s expansion despite a wider crypto market slowdown and strong interest in AI. In March the company announced a partnership with Palantir Technologies and TWG AI to develop an AI-powered sports integrity platform. Recent buys include Y Combinator-backed Dome, which provides developer tools for prediction markets, and Lunch, a boutique recruiting and team-building firm.
Polymarket’s markets have faced pushback in several countries, most recently Argentina, over concerns about unregulated gambling and contentious contracts, including markets tied to war events. The Brahma acquisition is intended to help Polymarket improve user experience and infrastructure as it navigates growth and regulatory scrutiny.
