Polymarket acquires DeFi infrastructure startup Brahma
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On March 18, prediction market platform Polymarket announced the acquisition of DeFi infrastructure startup Brahma, with the transaction amount undisclosed. Brahma was founded in 2021 by Alessandro Tenconi, Akanshu Jain, and Bapi Reddy Karri, and has processed over $1 billion in cumulative transaction volume. After the acquisition, Brahma will terminate its existing projects with other partners. Polymarket stated that this acquisition aims to optimize user experience and leverage Brahma's DeFi expertise to introduce more liquidity to niche sector contracts. Currently, Polymarket is valued at approximately $20 billion.
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