Polymarket Upgrade Will Not Automatically Migrate Existing Bets to New Contracts

WHY IT MATTERS

Prediction markets like Polymarket let people bet on whether certain events will happen, similar to placing a wager on a sports game but for things like elections or economic outcomes. These platforms run on smart contracts, which are self-executing programs on a blockchain that hold and manage the bets. When a platform upgrades its smart contracts, it is essentially replacing the underlying program. Think of it like a bank switching to a new computer system — your old account does not automatically appear in the new system unless someone transfers it. In this case, Polymarket is telling users they will need to handle that transfer themselves, which means anyone with active bets should pay attention to the platform's instructions to avoid losing track of their positions.