Polymarket V2 Leaves Existing Bets on Legacy Contracts

Polymarket’s Protocol V2 rollout does not automatically move existing bets from its older Conditional Tokens Framework (CTF) to new contracts. The guidance tells trading integrations to keep supporting legacy holdings while adding a separate system for V2 positions and permissions. Canary markets are planned for Oct. 5 through Oct. 30, with Nov. 2 described as a tentative switch for newly created markets, not a deadline to convert existing positions.

Why it matters

The change affects how developers track balances, identify shares and authorize trades. Legacy CTF positions remain on the older ledger, while V2 balances sit in a separate contract called PositionManager. Integrations must select the correct share identifier for each market and use the corresponding order format: V2 uses position IDs and signing-domain version 3, while CTF orders retain version 2.

Permissions are separate, too. V2 purchases require the account holding assets to authorize ExchangeV3 to spend enough pUSD for purchases and fees. Selling requires permission for ExchangeV3 to operate on PositionManager shares; existing CTF approvals do not cover either action. Direct creation, combination or redemption through contracts uses Router, with its own approval and operator-permission requirements.

Market impact

For developers, the rollout means maintaining compatibility with both contract systems and verifying purchases, sales and balances on a V2 market and a CTF market. Integrations that already use pUSD and the CTFExchangeV2 order format can keep their collateral, wallets, order-book credentials and endpoints, but still need to update balance handling and payout reads.

Polymarket’s contract registry says a CTF position can move into V2 only after Polymarket registers the relevant condition or event. That operation is distinct from updating trading software. Users on Polymarket’s app or website do not need a technical migration, though they should complete any approval prompts shown in the app. The guidance covers Polygon-based onchain trading; Polymarket US has separate documentation.