Polymarket Plans US Relaunch with Sports Betting Focus
- Polymarket aims to launch limited trading services for US residents by the end of November.
- The platform will focus on sports betting, following a no-action letter from the US Commodity Futures Trading Commission (CFTC).
- Polymarket’s valuation could reach $10 billion upon reopening, up from $1 billion in June after a $200 million funding round.
- The company has set up a waitlist on its website for interested US traders.
- Trump Media and Technology Group plans to enter the prediction market space via Truth Social, partnering with Crypto.com.
Polymarket’s potential return to the US market is significant as it follows regulatory developments that may influence similar platforms like Kalshi, which recently won a legal appeal regarding political event contracts.
With plans to offer trading services focused on sports betting and a possible valuation increase to $10 billion, Polymarket is positioning itself for a strong comeback in the US market.(Source)
