Polymarket, the prediction markets platform, stopped trading on Thursday. Reports say user funds were drained. Cointelegraph reported the halt on Oct 29, 2026.
The company said one of its third-party providers had been compromised. It also said its Predictions Trading API had a "major outage", and trading was paused for now because of that outage.
The report does not say how much money may have been taken, how many users were affected or which provider was compromised. It also does not say when trading will start again. So far, the claim that funds were drained comes from reports, not from a confirmed loss figure.
For anyone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, the report shows no direct change. It does not mention any of these exchanges. It also says nothing about funding rates, trading fees or liquidity there. Based on what is known so far, the honest answer is that nothing changes directly.
Source: cointelegraph — Polymarket suspended trading amid reports of user funds being drained