Forecasting platform Polymarket will soon allow users to make deposits in SOL, expanding the project to the Solana blockchain. The company announced this Monday via a brief announcement on X.

Starting today, you can now make deposits into your Polymarket wallet using Solana.https://t.co/3sBK0ai3VU
— Polymarket (@Polymarket) March 24, 2025

Until now, the crypto-based gambling platform exclusively used the Polygon network, and users could only make deposits with the stablecoin USDC.

With the move to integrate Solana and allow SOL deposits, Polymarket probably wants to boost activity on its platform. Especially around the US presidential election, the platform became very popular.

Since then, the total betting volume wagered on Polymarket has declined significantly. According to data from Dune Analytics, it dropped from $2.6 billion in November 2024 to $635 million in March.

Yet activity on Polymarket is still higher than in September, before the election, indicating that users have remained loyal to the platform.

Solana itself could also benefit from this new gambling activity. Indeed, the blockchain saw a sharp decline in memecoin trading in recent months, which previously created high activity and strong demand for the SOLcoin. The hype peaked around the launch of the TRUMP memecoin, which even caused Solana to hit new record levels.

Since then, the memecoin craze has cooled considerably, resulting in a sharp drop in the SOL share price. The "high-speed blockchain" is therefore looking for new ways to attract users.

Solana fortunately still has a loyal base of holders behind it. According to on-chain data, more than 11 million people now have at least 0.1 SOL in their wallets, a new record.