Polymarket launches on Solana to enable SOL deposits

Polymarket will now enable users to make SOL deposits, the company said in a brief announcement posted Monday to X.The crypto-based prediction platform uses the Polygon network and has, up until now, primarily required users to buy USDC stablecoins for deposits. Solana is the sixth most popular cryptocurrency by market cap, just ahead of USDC.Polymarket's move to launch on Solana and allow SOL deposits is most likely designed in part to boost activity on the platform made popular during the U.S. presidential election. Polymarket hit 450,000 monthly active traders in January, but those numbers have since decreased slightly, according to The Block Data Dashboard.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.