Polymarket Acquires DeFi Infrastructure Startup Brahma

On March 18, prediction market platform Polymarket announced the acquisition of DeFi infrastructure startup Brahma. The transaction amount was not disclosed. Brahma was founded in 2021 by Alessandro Tenconi, Akanshu Jain, and Bapi Reddy Karri, and has processed over $1 billion in transaction volume to date. Following the acquisition, Brahma will terminate existing projects with other partners. Polymarket stated that the acquisition aims to optimize user experience and leverage Brahma's DeFi expertise to introduce more liquidity to niche contract markets. Polymarket is currently valued at approximately $20 billion.