Polymarket, the crypto-native prediction market that drew attention to that entire segment of the industry last year, is preparing to formally relaunch in the US as soon as November, Bloomberg reported on Tuesday.
Trading would begin with limited user access and initially focus on sports-related markets. Polymarket officially closed access to the US 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 operated offshore while continuing to build its user base with crypto-based prediction markets ranging from elections to celebrity quizzes. Individuals in the US were still able to place bets on Polymarket using virtual private networks.
Earlier this year, Polymarket acquired QCX, a company with both exchange and clearinghouse licenses from the CFTC. That acquisition gives it a path to operate legally in the United States — a critical pivot after federal investigations by both the CFTC and the Justice Department were shut down.
Unlike competitors like Kalshi or the recently announced Truth Social prediction platform from Trump Media, Polymarket runs entirely on blockchain infrastructure and uses crypto – primarily stablecoins – for trading. Its planned native token will tie platform growth directly to the crypto ecosystem, although details of its function or regulatory structure have not been released.
