"Building reliable infrastructure across blockchain networks and traditional financial rails is hard — there are no shortcuts,” said Polymarket CEO Shayne Coplan.

What to know:

Polymarket has acquired financial infrastructure firm Brahma, bringing its team and real-time execution and settlement technology into the prediction markets platform.

The acquisition is intended to help Polymarket scale its infrastructure and product suite as it grows.

Brahma, which has processed more than $1 billion in transaction volume, will phase out all existing products within 30 days and has instructed users to migrate their funds and positions.

Prediction markets platform Polymarket announced Wednesday the acquisition of Brahma, a financial infrastructure company that built real-time execution and settlement systems for high-volume digital asset and fintech transactions.

A Polymarket spokesperson told CoinDesk the terms of the agreement are not being disclosed.

Brahma also released a statement on Wednesday saying Polymarket acquired its DeFi infrastructure to bring its team and technology into the prediction market company as it seeks to scale its infrastructure suite.

“With this acquisition, our team and our technology live on, to help scale Polymarket and its ecosystem,” the Brahma team said in a post on X. “Our mission to build at the core of crypto continues.”

Brahma said it has processed more than $1 billion in transaction volume and over $100 million in total value locked. The company also said that all of its products, including Brahma Accounts, Agents, and Swype. fun will be phased out within 30 days. Users have been instructed to migrate funds and positions via the company's website and community channels.

View sources >>  Polymarket acquires Brahma to scale blockchain trading infrastructure