Polymarket Set to Relaunch in the US by November: Report

Polymarket’s Expected US Return

Prediction platform Polymarket is reportedly set to resume trading services in the United States within weeks, following a decision from a US regulatory body in September that laid the groundwork for its return.

According to a Bloomberg report referencing knowledgeable sources, Polymarket plans to roll out limited trading options for US residents before the end of November, primarily concentrating on sports betting.

This news comes just two months post the US Commodity Futures Trading Commission’s (CFTC) notification that it had issued a ’no-action letter’ for a crypto derivatives exchange and clearinghouse acquired by Polymarket, enabling the platform’s operations in the USA, according to CEO Shayne Coplan.

Polymarket Source: Polymarket

Reports from September hinted that Polymarket’s reopening in the US could see its valuation soar to as much as $10 billion, a significant increase from an estimated valuation of $1 billion as of June, following a substantial $200 million funding round.

As of the latest update, Polymarket’s website features a waitlist indicating that it will soon be accessible to US traders. Cointelegraph had reached out for comments but did not receive a response before publication.

Trump Media Ventures into Prediction Markets

On the same day, Trump Media and Technology Group, co-founded by US President Donald Trump, announced plans to introduce prediction markets through its social media platform, Truth Social. The company intends to collaborate with cryptocurrency exchange Crypto.com to offer these markets alongside existing platforms like Kalshi and Polymarket.

Kalshi’s legal conflict with the CFTC may have paved the way for Polymarket’s reentry into the US market. In 2023, the regulator ordered Kalshi to halt the provision of political event contracts, leading to a successful appeal by the company.