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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteFor Polymarket’s April 28, 2026 CLOB V2 upgrade, active-market positions carried over and were expected to resolve normally, but open orders were cancelled. Traders who still wanted limit orders or market-making quotes on the book had to place them again. The distinction matters: an existing position is not the same thing as an unfilled order.
What happened in Polymarket’s April 2026 upgrade?
Polymarket’s documentation says CLOB V2 went live in production on April 28, 2026. The migration combined new exchange contracts, a rewritten central limit order book (CLOB) backend, and new collateral handling. The official guide says V1 SDKs and V1-signed orders are unsupported on production after the cutover. Polymarket’s CLOB V2 migration guide
For this cutover, Polymarket announced a planned trading pause of approximately one hour. It also described a one-time account flow to convert USDC to pUSD and approve trading on the new contracts. The Help Center notice, indexed with an update date of July 17, 2026, is the source for that estimate and user flow; it is not a general timetable for future upgrades. Polymarket Help Center upgrade notice
What happened to open positions and open orders?
| Item | What Polymarket said for the V2 cutover | What that meant for a trader |
|---|---|---|
| Position | Positions in active markets carried over and would resolve normally. | Existing outcome-token exposure was not cancelled just because the exchange stack changed. |
| Open order | Old order books were cleared and open orders cancelled. | An unfilled limit order or quote did not automatically reappear; the trader needed to submit it again if still wanted. |
| Settlement | Active-market positions were to resolve normally. | The migration notice did not describe a change to the ordinary resolution of those active markets. |
The migration notice’s direct statement is: “Positions in active markets carry over and resolve normally.” Polymarket Help Center upgrade notice This assurance is about the April 2026 exchange-stack migration; it should not be treated as a standing rule for every later change to market terms, oracle rules, condition identifiers, or settlement contracts.
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What did cancelled orders mean for liquidity?
Resting orders supply displayed bids and asks. When Polymarket cleared the old books, the previous limit orders and market-maker quotes stopped contributing to depth. Users had to post new orders after cutover, so the visible book could be thinner or have different prices and spreads until traders rebuilt it.
- Filled positions were not the same as resting orders, and the notice did not say filled positions were cancelled.
- Reposting an order did not guarantee it would fill; execution still depended on available counterparties and price.
- Polymarket’s notice gave no fixed time for liquidity to return and no promise that the new book would match prior depth, prices, or spreads.
How did collateral and settlement change?
The V2 guide describes a change in collateral handling from USDC.e to pUSD and says pUSD is backed one-to-one by USDC. The V2 repository describes a wrapped-collateral layer and adapters that connect collateral to Conditional Token Framework operations. Depending on the match type, the exchange can transfer outcome tokens directly or use CTF operations to split or merge collateral. Polymarket CTF Exchange V2 repository
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That is a change to exchange and collateral plumbing, not evidence that active positions were erased or that their market outcomes were rewritten. Separately, Polymarket’s general FAQ says a share representing the correct final outcome pays $1 USDC upon resolution; it also says shares can be sold before the outcome is known. That is the platform’s general payout description, distinct from the migration-specific assurance that active positions carried over. Polymarket FAQ
What should traders check during an upgrade?
- Identify what you hold. A filled position is exposure to an outcome; an open order is an instruction waiting to match. For the April 2026 V2 cutover, Polymarket said the former carried over and the latter was cancelled.
- Inspect the current order book. If you depended on a resting limit order or market-making quote, check whether it is present and repost it if appropriate. Do not assume the old price or amount was restored.
- Follow current in-product collateral and approval instructions. V2 included a one-time conversion and new-contract trading approval flow, but account screens and support guidance can change. Use the instructions shown for your account rather than relying on an old walkthrough.
- Read the notice for the specific upgrade. The April 2026 notice covers an exchange-stack migration. It does not establish what happens if a future change alters a market’s terms, oracle, condition, or settlement contract.
Does the V2 upgrade guarantee lower trading costs?
No individual trading-cost result follows from the repository’s benchmark. Polymarket’s V2 repository reports one-maker complementary-match gas snapshots of 207,402 for V1 and 134,594 for V2, a 35% reduction under the listed equivalent test conditions, using EOA signatures and no fees. This is a scoped project-repository test, not a promise about a user’s transaction cost or every match type. Polymarket CTF Exchange V2 repository
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