Polymarket Plans US Return with Sports Betting Focus
- Polymarket, a blockchain-based prediction market, is set to reenter the US with an emphasis on sports betting.
- The firm aims to start initial trading by late November, with limited access during the rollout phase.
- After paying a $1.4 million fine to the CFTC in 2022 and moving offshore, Polymarket has cleared past probes.
- The company acquired QCX, securing CFTC exchange and clearinghouse licenses for its operations.
- Polymarket is targeting a valuation between $12 billion and $15 billion following its relaunch.
Polymarket is making a strategic comeback in the US market by focusing on sports betting. The firm has resolved previous regulatory issues and secured necessary licenses through its acquisition of QCX, positioning itself for future growth with a target valuation of up to $15 billion.
Source (3.2)https://cryptobriefing.com/polymarket-us-sports-return/?rand=59535
