Polymarket Tests US Exchange Relaunch

Polymarket Begins Beta Testing US Exchange for November Relaunch

• Polymarket is conducting a beta test of its US exchange with select users before a planned public relaunch.
• The platform utilizes an open exchange model, allowing users to set prices and back outcomes.
• After operating offshore, Polymarket aims to re-enter the US market with regulatory approval from the CFTC.
• The company acquired QCEX, a derivatives exchange, to facilitate this move.
• Polymarket’s valuation target is between $12 billion and $15 billion, following a previous valuation of $8 billion.

Polymarket is testing its US exchange in preparation for a late November launch. The platform has secured necessary regulatory approvals and plans to operate under an open exchange model. It seeks additional financing at an increased valuation target of up to $15 billion.