The U.S. presidential election is 41 days away and the buzzy crypto-based political betting site Polymarket is reportedly close to lining up a bet on its own future in the form of an additional $50 million investment in the company.

With an upcoming $50M funding round and a possible token launch, will Polymarket bet big on itself? Let’s see what that means for crypto.

Polymarket is in discussions to raise $50 million, potentially leading to a new token launch that could transform its betting platform.

Polymarket is in talks to raise over $50m in new funding and is considering launching a token to support its betting platform.

The prediction market would use the potential token "as a way for users to validate the outcome of real-world events," the Information reported. It's unclear what that would mean for UMA, the oracle Polymarket uses.