For the past eight years, there have been more delisting than IPOs on the main market of the Warsaw Stock Exchange. The glory days of the Warsaw Stock Exchange from the first decade of the 21st century, when we seriously considered building a strong capital center in Warsaw and, among other things, taking over the Vienna Stock Exchange, remain only a memory. The weakening of the WSE is a consequence of strategic decisions and omissions. We have cut off the capital market from the most important source of funding, namely savings accumulated in pension funds, one of the pillars of development of most leading capital markets. The change in Poland’s economic climate is not conducive to the inflow of foreign capital to the WSE. We have not done enough to make the stock market more attractive to a wider range of individual investors. Actual protection of their interests has been replaced by a bureaucracy of tables and figures. What are the prospects for the development of the WSE? What needs to be done for the Warsaw trading floor to regain its luster? Does the WSE have a chance to regain its role as the flywheel of the Polish economy, both in the context of the need to increase domestic investment and Polish ambitions for a role in the process of rebuilding an independent Ukraine?