Polymarket is considering an initial public offering and a native token as potential fundraising and expansion routes, Bloomberg reported, but has formally announced neither plan or timetable. At TOKEN2049 in Singapore, CEO Shayne Coplan said the prediction-market operator was exploring a useful, programmable on-chain asset connected to its platform economy, renewing speculation about a possible token and airdrop. He did not confirm an issuance, timing or structure, and Polymarket has said it has never announced an airdrop or token generation event. The comments come as crypto companies reassess token utility and financing models: CoinGecko data showed fewer than 10% of tokens listed on major exchanges gained in price between January 2025 and February 2026, while Across is winding down its token in favor of equity conversion. Polymarket's valuation rose from about $9 billion after an investment by Intercontinental Exchange to about $15 billion in April and above $20 billion amid reported August investment talks. Investors are watching for formal token plans, IPO steps and further fundraising.