Polymarket has recently moved to a new system of smart contracts, including the use of their own internal currency, pUSD. Currently, pUSD can be exchanged permissionlessly on-chain for traditional USDC stablecoin via the CollateralOfframp contract. But the contracts also make it possible to disable this permissionless route and only allow withdrawals through a permissioned offramp, possibly associated with fees or KYC requirements.

This market will resolve to the earliest year this will happen, or “2028 or later” if it does not happen by the end of 2027.