Polymarket, the crypto-native prediction market that brought attention to that entire segment of the industry last year, is preparing to formally relaunch in the US in November, Bloomberg reported on Tuesday.
Trading would begin with limited access to users and an initial focus on sports-related markets. Polymarket officially closed 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 deal, it has operated overseas while continuing to build its user base with cryptocurrency-based prediction markets ranging from elections to celebrity trials. People in the US could still place bets on Polymarket by using virtual private networks.
Earlier this year, Polymarket acquired QCX, a company with CFTC exchange and clearinghouse licenses. That acquisition gives it a path to operate legally in the United States, a critical point after federal investigations by both the CFTC and the Department of Justice were closed.
Unlike competitors like Kalshi or Trump Media’s recently announced Truth Social prediction platform, Polymarket runs entirely on blockchain infrastructure and uses cryptocurrencies (mainly stablecoins) for trading. Its planned native token would link the platform’s growth directly to the crypto ecosystem, although no details about its role or regulatory structure have been released.
