Polymarket now accepts Solana deposits from users

Blockchain betting platform Polymarket announced that users can now make deposits to their wallet using Solana starting March 25.

In a recent post, the platform informs users that they can now make deposits to their Polymarket wallet balances using Solana (SOL). With this upgrade, Solana joins other tokens such as Ethereum (ETH), USDC (USDC), and Polygon (MATIC) that are acceptable for users to add to their prediction market wallets.

“Starting today, you can now make deposits into your Polymarket wallet using Solana,” wrote Polymarket on their official account.

In the comments section, many traders reacted positively to the addition of Solana to Polymarket’s wallet feature. Some saw it as a positive indication that Solana is getting more recognition following its addition to the U.S. digital stockpile, while Solana-loyalists praised Polymarket for “making life easier.”

“Thank God I don’t have to use USDC anymore!” said one trader.

“Smart, now I might actually use it,” said another user.

“So deposits from Solana but the markets are still on Polygon, cool,” wrote one trader.

Traders that sign up to Polymarket are automatically given self-custody over their own Ethereum-based wallet that can store the funds used to make bets on various prediction markets on the platform, from current worldly events like political elections to crypto market movements. According to the site, the Polymarket wallet mainly accepts USDC as its main currency, but it also accepts Polygon’s MATIC, Ethereum, and most recently Solana.

Shortly after Polymarket announced it will start accepting Solana as a payment option for its prediction market wallet, SOL received a mini-boost, bouncing as high as $143.14 minutes after the post was shared.

In the past 24 hours, SOL has gone up by 1.07% and is currently trading hands at $139.66, according to data from crypto.news. At press time, Solana’s market cap currently stands at more than $71 billion. Meanwhile, the token’s daily trading volume has gone up by 42.30% to $4.3 billion in the past trading day.

According to data from Dune analytics, Polymarket’s daily trading volume sits at $27 million. On Jan. 20, its trading volume spiked to nearly $100 million, on the same day as President Trump’s inauguration. In the past month, the prediction market platform has accumulated nearly $1 billion in trading volume. It remains to be seen whether the addition of SOL will be able to raise its trading volume in the next few days.

Most recently, Thai authorities declared that it may consider closing down Polymarket in an attempt to crack down on gambling activity in the country. Polymarket is currently banned in multiple countries such as Taiwan, France and Singapore.