Prediction platform Polymarket reportedly plans to revive trading services in the United States within weeks.
According to a report by Tuesday Bloomberg citing people familiar with the matter, Polymarket plans Limited trading for US residents before the end of November, with an emphasis on sports betting.
The Relaunch report comes about two months after the US Commodity Futures Trading Commission (CFTC) said issued a no-action letter in a crypto derivatives exchange and clearinghouse acquired by Polymarket. This move sets the stage for the company to “live in the USA,” according to CEO Shayne Coplan.
Reports since September have suggested that, should polymarket reopen in US markets, the company can have an appreciation as high as $10 billion. In June, the predictions platform was worth almost $ 1 billion Following a $200-million funding round.
Related: Prediction platform Kalshi sued NY regulator, claiming overreach
As of Tuesday, Polymarket’s website showed a waiting list, saying it would be “soon available for US merchants.” Cointelegraph reached out to the company for comment, but did not receive a response by the time of publication.
The US president moving into the prediction market business
On Tuesday, the Trump Media and Technology Group, the company founded by US President Donald Trump, announced plans to enable prediction markets Through its social media platform, social truth. The social media company said it will partner with Cryptocurrency Exchange Crypto.com to join platforms like Kalshi and Polymarket in offering users prediction markets.
https://www.youtube.com/watch?v=rahu7cikfj0
Kalshi’s own legal battle with the CFTC may have paved the way for Polymarket’s return to the US. In 2023, the regulator ordered Kalshi to stop offering political event contracts, prompting an appeal that ended in the company’s favor.
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