Polymarket Head of Protocol Rajath Alex announced Polymarket Protocol V2, replacing its legacy 2019 Gnosis CTF foundation to eliminate architectural bloat. Protocol V2 unifies the system around a single ERC-1155 position contract, pUSD collateral, and a consolidated exchange and router across all market types. The modular design natively supports binary, neg-risk, and combinatorial markets, integrates a multi-oracle aggregator (supporting UMA and Chainlink), and embeds cross-chain bridging. Formally verified by Certora, heavily audited, and backed by a $5M bug bounty, V2 will test canary markets from October 5 to 30 ahead of a planned November 2 rollout alongside a new Rust-based Data API V2.