Polymarket's Protocol V2 upgrade leaves existing bets held under its Conditional Tokens Framework, or CTF, in place rather than automatically moving them to new contracts. Migration requires a separate, registered process rather than occurring automatically.
According to an Oct. 5 announcement, Polymarket will run test markets from Oct. 5 through Oct. 30, with Nov. 2 set as a tentative date for newly created markets to launch on the new protocol. This represents a transition date for future markets rather than a deadline for converting all existing positions.
No Action Required for App Users
Users of Polymarket's app or website require no technical migration steps. They should complete any approval prompts that appear in the app to authorize trading on the new system.
A separate mechanism does allow holders to move CTF positions into V2, though this operation is distinct from routine software updates. According to Polymarket's contract registry, the relevant condition or event must be registered by Polymarket before migration can occur.
Integrations Must Support Both Systems
For developers, the upgrade creates operational complexity. Legacy CTF positions remain recorded on the older ledger, while V2 balances sit in a separate contract called PositionManager. Trading integrations must handle balances from both systems and retain CTF identifiers for older markets.
Permissions function separately between the two systems. V2 trading requires accounts to authorize ExchangeV3, the new trading contract, to spend pUSD, Polymarket's trading collateral. Selling on V2 requires separate permission for ExchangeV3 to operate on PositionManager shares. Existing CTF permissions do not grant either approval.
Trading software must select the correct share identifier for each market's version and distinguish between V2 orders using position IDs with signing-domain version 3 and CTF orders using version 2. Balance requests must also differentiate between V2 shares and CTF shares.
For integrations that create, combine, or redeem positions directly, V2 uses a system called Router. The protocol requires developers to verify purchases, sales, and balances on both V2 and CTF markets. Existing settings for collateral, wallets, order-book credentials, and endpoints remain unchanged.
