Polymarket is set to deploy its V2 upgrade on April 22, introducing a new collateral token, pUSD, backed 1:1 by USDC. This upgrade will require a full migration as the V1 platform shuts down permanently after a brief downtime. The overhaul includes redesigned smart contracts and trading infrastructure, supported by a $5 million bug bounty and multiple audits to ensure security and reliability. The V2 upgrade marks a significant shift in Polymarket's operations, replacing the existing trading engine with new CTF Exchange V2 contracts. These changes simplify order structures and improve efficiency by calculating fees at execution. The transition will clear all open limit orders, but user funds and positions will remain intact. Developers must update integrations to accommodate new contract addresses and signing formats, with testing access available through a staging environment. Polymarket's rapid growth, with over 192 million transactions in March, underscores the rising demand for decentralized prediction markets. The V2 rollout aims to enhance scalability and transparency, positioning Polymarket as a competitive alternative to traditional betting and forecasting systems.