Polymarket is preparing to relaunch its trading services for United States residents before the end of November, according to sources familiar with the matter. The prediction platform plans to offer limited trades initially, with a particular emphasis on sports betting markets as it re-enters the American market after years of absence.
The anticipated relaunch follows a significant regulatory development in August, when the Commodity Futures Trading Commission issued a no-action letter to a crypto derivatives exchange and clearinghouse that Polymarket had acquired. This regulatory clearance paved the way for the company to begin operations in the US market again, with CEO Shayne Coplan indicating at the time that the company was ready to go live domestically.
Industry analysts have suggested that Polymarket's return to the US market could dramatically increase the company's valuation to as much as $10 billion. This would represent a tenfold increase from its June valuation of approximately $1 billion, which came after the platform secured $200 million in funding. The company's website currently displays a waitlist for prospective US traders.
Polymarket's relaunch comes as the company strengthens its position with high-profile backing. In August, Donald Trump Jr. joined the platform's advisory board alongside a strategic investment from 1789 Capital, where he serves as a partner. The move has raised some eyebrows given that Trump Jr. also serves as a strategic advisor to Kalshi, a rival prediction market platform, though he has stated his commitment to supporting the prediction market industry as a whole.
