Polymarket's future may be very difficult. Deeply tied to the Trump family, and following its midterm election defeat, it will inevitably face political repercussions. The only question is when and to what extent. Its path is not as smooth as it was in the previous two years. Internal turmoil, fiercer external competition, and a barrage of lawsuits are expected. It is far behind other platforms in competition, making its IPO extremely difficult, and its token issuance seems a distant prospect.