Polymarket is taking its brand offline, opening a free grocery store in New York City and backing it with a $1 million donation to fight food insecurity.

Polymarket, the crypto-based prediction market platform, announced on Feb. 3 that it will open New York City’s first free grocery store later this month as part of a community-focused initiative.

The pop-up store, called “The Polymarket,” is set to open on Feb. 12 at noon ET and will offer groceries at no cost to visitors. The company said no purchase will be required, and the store will be open to all New Yorkers. Polymarket has not yet disclosed the exact location.

Alongside the launch, Polymarket donated $1 million to Food Bank For New York City, a non-profit that supports hunger relief across all five boroughs. The company described the donation as part of its effort to give back to the city it calls home.

A physical bet on community impact

Polymarket framed the project as a “real, physical investment” in New York. The company said the store will be fully stocked and emphasized that the initiative is meant to address food insecurity rather than function as a traditional retail operation.

Food Bank For New York City said the donation will support its ongoing work to expand access to food and strengthen long-term food security. Polymarket encouraged members of the public to contribute to the organization as well.

Sources familiar with the project say the grocery store is expected to run for a limited time, likely spanning several days around the opening weekend.

Marketing push amid rising competition

The move also comes as competition heats up among U.S.-based prediction market platforms. Rival Kalshi earlier staged a smaller free grocery giveaway in New York, prompting comparisons between the two campaigns.

Both efforts echo campaign rhetoric from New York Mayor Zohran Mamdani, who previously floated the idea of city-run grocery stores. Polymarket currently hosts active markets tied to whether such stores will open in the city by mid-2026, adding another layer of symbolism to the initiative.

The launch follows a busy stretch for Polymarket. In late January, the platform announced a multi-year partnership with Major League Soccer, becoming the league’s official prediction market partner. On Feb. 2, Polymarket integrated with decentralized exchange aggregator Jupiter, allowing users to access markets directly on Solana.

The company is also navigating regulatory pressure. A Nevada state court issued a temporary restraining order last week preventing Polymarket’s U.S. affiliate from offering certain contracts to Nevada residents, with a hearing scheduled for Feb. 11.