Polymarket Acquires Brahma to Explore Crypto and DeFi

Prediction markets platform Polymarket has acquired Brahma, a crypto project that provides decentralized finance services to retail and institutional clients. According to Fortune, details of the deal were not disclosed.

Still, it is known that the acquisition aims to enable Polymarket to expand its services beyond the prediction markets and into the DeFi and broader crypto ecosystem.

Brahma was founded in 2021 by three individuals. It has processed over $1 billion worth of transactions for clients globally.

Polymarket Takes Over Brahma

Polymarket’s CEO, Shayne Coplan, acknowledged that creating a crypto infrastructure from scratch is difficult.

“Building reliable infrastructure across blockchain networks and traditional financial rails is hard—there are no shortcuts. The Brahma team has shown they can design, operate, and scale complex products for sophisticated users,” he told Fortune.

Brahma’s co-founder, Alessandro Tenconi, added that his firm would assist Polymarket users in creating wallets, depositing and converting shares, and redeeming tokens.

As part of the deal, Brahma will halt its products within 30 days, on April 17th. Users are urged to withdraw their assets during this period or transfer them to a Safe Wallet. Via its GitHub account, the crypto project explained how users can successfully migrate their crypto holdings. After the 30-day window, users’ funds will be accessible through the Safe UI.

More Acquisitions in the Crypto Industry

Aside from Brahma, Polymarket has acquired other companies to expand its operations. For instance, the platform acquired Dome, a prediction markets API project, last month. In the same month, Polymarket acquired Lunch, a boutique search firm, to scale its team.

These acquisition deals come despite Polymarket’s struggle with global regulators over its prediction markets operations.

In recent times, more firms have either acquired or disclosed acquisition deals to grow their businesses. Yesterday, for example, Mastercard revealed its plan to purchase the stablecoin firm BVNK for up to $1.8 billion. This came after Coinbase backed out of an acquisition deal with the stablecoin company.

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