The Matic Network was launched in 2017 by four software engineers: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic.

[3] In February 2022, Polygon raised $450 million by selling MATIC tokens in a round led by Sequoia Capital India including Tiger Global and Softbank Vision Fund.

[4][5] In November 2022, JPMorgan Chase executed its first live trade on a public blockchain, using Polygon and modified Aave.

[6] On December 15, 2022, Donald Trump launched a series of digital art NFTs minted on the Polygon network for sale to the public for $99 USD each.

[10][11] In 2023, Polygon co-founder Jaynti Kanani, announced his decision to step back from the daily operations of the project after six years of involvement.

The Polygon network aims to address problems within the Ethereum platform, namely high transaction fees and slow processing speeds.

[citation needed] Polygon is the blockchain platform which runs Polymarket,[18] the world's largest prediction market.

[21][22] In July 2022, Polygon participated in Disney's 2022 acceleration program to expand into augmented reality, NFTs, and AI.