Could be a gear, could be the ladder chain or sprocket is stripped or the chain is stretched. Is it under warranty? If so, take it to a authorized Polaris dealer for repair, if not DIY and remove the upper body and inspect it. If the ladder chain and sprocket are not stretched or stripped and the sound is coming inside the gearbox assy, you can either 1) buy a new gearbox assembly P/N 39-200 or tear it apart and replace the parts as required. Could be a worn out bearing as well.
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