Gondor is rolling out portfolio-backed margin lending for Polymarket, letting traders borrow against their entire prediction-market holdings instead of individual positions.
The new product, called V1, uses a cross-margin system that evaluates a trader’s full Polymarket portfolio as collateral before extending credit. Gondor says it will not take custody of user assets. Private access is slated to begin next week, with a public launch planned for September.
This release builds on Gondor’s roadmap after an August 2025 angel round led by Maven11 Capital — which included investors tied to Polymesh, Rhino.fi, Futuur, Salt and others — to create lending products tailored to Polymarket users. V1 replaces the earlier position-by-position lending approach with portfolio-level credit.
Gondor tested its lending stack in a seven-month closed beta. More than 150,000 users joined the waitlist; the firm reviewed applicants and invited 1,000 of the most active Polymarket traders to participate. During the beta, Gondor initially used an isolated lending model that treated each market position separately. That approach exposed lenders to “binary” market risk — a position can rapidly lose nearly all of its value before liquidation is possible — which forced lenders to impose higher borrowing costs, tighter conditions, and limits on which markets and how long loans could remain open.
V1’s cross-margin design is intended to mitigate those issues by letting gains in some positions offset losses in others, similar to how prime brokers underwrite credit against an investor’s entire portfolio. Gondor says this enables greater borrowing capacity, lower financing costs, support for a wider range of prediction markets, and the ability for traders to keep positions open until market resolution rather than being forced into early loan closures.
However, several operational details remain undisclosed ahead of the private rollout. Gondor has not yet published borrowing rates, collateral requirements, liquidation thresholds, or which markets will be eligible for early access. It’s unclear whether those terms will be finalized before the September public launch; the upcoming private access period will be the first live test of the portfolio-backed model outside the closed beta.
If V1 performs as intended, it could significantly expand leveraged activity and liquidity on Polymarket — but traders and lenders will be watching the exact risk parameters and pricing once Gondor reveals them.
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