Polymarket, the crypto-native prediction marketplace that brought attention to this entire segment of the industry last year, is preparing to officially relaunch in the United States as early as November, Bloomberg reported on Tuesday.
The exchanges would begin with limited user access and initially focus on sports-related markets. Polymarket officially shut down US access in 2022 after settling charges with the Commodity Futures Trading Commission (CFTC), which fined the company $1.4 million for running an unregistered derivatives platform and made it agree to block US-based users.
Since the settlement, it has been operating overseas while continuing to grow its user base with crypto-based prediction markets ranging from elections to celebrity trials. In the United States, individuals could still bet on Polymarket through the use of virtual private networks.
Earlier this year, Polymarket acquired QCX, a CFTC exchange and clearinghouse licensee. The acquisition gives it the ability to operate legally in the United States – a critical pivot following the closure of federal investigations by the CFTC and Department of Justice.
Unlike competitors such as Kalshi or Trump Media’s recently announced Truth Social prediction platform, Polymarket runs entirely on blockchain infrastructure and uses crypto – primarily stablecoins – for trading. Its planned native token would tie the platform’s growth directly to the crypto ecosystem, although details on its function or regulatory structure have not been released.
