Polymarket V2 Leaves Existing Bets in Older System

Polymarket’s Protocol V2 will not automatically transfer existing positions held in its older Conditional Tokens Framework, or CTF. Moving those positions to V2 requires a separate migration after Polymarket registers the relevant event or condition.

The rollout applies to newly created markets and records V2 positions in a separate contract called PositionManager. Existing CTF balances will remain in the older system unless holders complete the migration process for an eligible market.

Polymarket began testing V2 in live canary markets on Oct. 5. The testing period is scheduled to run through Oct. 30. Nov. 2 is a tentative date for using V2 in newly created markets, rather than a deadline for converting existing positions.

Users trading through Polymarket’s app or website do not need to complete a technical migration. They should follow approval prompts shown in the app. The guidance covers Polygon-based onchain trading. Polymarket US users are directed to separate documentation.

Trading integrations must continue supporting CTF positions while adding support for V2 balances in PositionManager. Older CTF identifiers must remain available for legacy markets.

V2 uses separate permissions for buying and selling. The account holding a buyer’s assets must authorize ExchangeV3 to spend pUSD, Polymarket’s trading collateral, on purchases and fees. Selling requires permission for ExchangeV3 to operate the seller’s PositionManager shares. Existing CTF permissions do not provide these authorizations.

Integrations must select the correct share identifier for each market version. V2 orders use position IDs and signing-domain version 3. CTF orders continue to use the older exchange format and signing-domain version 2. Balance requests must also distinguish between V2 and CTF shares.

The migration contract links an existing CTF balance to a new PositionManager balance. The relevant event or condition must first be registered in Polymarket’s contract registry. The transfer is separate from updating trading software.

Developers that create, combine or redeem positions through contracts must update their systems for V2. The process uses Router. Creating positions requires permission for Router to spend pUSD, while combining or redeeming positions requires operator permission on PositionManager. Balance and payout data must also be updated.

For integrations already using pUSD and the CTFExchangeV2 order format, wallets, collateral, order-book credentials and endpoints remain unchanged. Polymarket has instructed developers to test purchases, sales and balances in both V2 and CTF markets.

Protocol V2 is separate from Polymarket’s earlier upgrades with similar names. CLOB V2 went live on April 28, and Data API v2 launched on Sept. 4. The October rollout adds a separate position system for newly created markets.