Polymarket Files for Crypto Token Trademarks as Legal Battles Mount
Polymarket, through parent company Blockratize Inc., has filed trademark applications for "POLY" and "$POLY" with the U.S. Patent and Trademark Office, aiming to protect the names for cryptocurrency services, trading platforms, and blockchain-based payment systems. The applications indicate plans to provide a digital token for online community use and cover activities such as cryptocurrency trading and portfolio management. This marks the first public documentation directly linking Polymarket to an upcoming native token, which company leaders have previously teased and discussed, including the prospect of an airdrop. Polymarket does not plan to launch the token until it secures a stronger U.S. presence, recently advancing this by obtaining CFTC approval to operate domestically. However, regulatory and legal obstacles continue, notably a Nevada court order blocking the platform from offering event-based contracts in the state over gaming law concerns, prompting Polymarket to contest the order in federal court. The trademark applications are pending examination, and the company has not commented.
