Prediction-market operator Polymarket is preparing to reopen to U.S. users before the end of November, Bloomberg reported Tuesday, citing people familiar with the plans.
The company’s renewed push comes as event contract platforms continue to collide with the expanding sports betting industry, where federal licensing has given prediction markets a new edge over state-bound sportsbooks.
The relaunch represents a major step for Polymarket after resolving a 2022 enforcement case with the U.S. Commodity Futures Trading Commission, which forced the firm offshore and resulted in a $1.4 million penalty. Since then, Polymarket has acquired QCX, a licensed derivatives exchange and clearinghouse, laying regulatory groundwork for its U.S. comeback.
Sports betting is emerging as a central front in the prediction market boom. Earlier this month, the National Hockey League reached multi-year licensing deals with both Polymarket and rival Kalshi, marking the first major U.S. sports league partnership of its kind. The move intensifies competition with traditional sportsbooks such as DraftKings and FanDuel, which now face federally regulated exchanges offering wager-like event contracts.
Polymarket’s return also coincides with an unprecedented wave of funding and trading growth in the sector. Together, Polymarket and Kalshi handled over $6.3 billion in volume so far in October, according to The Block’s data dashboard.
Polymarket has attracted investment from Intercontinental Exchange (ICE), valuing the company near $9 billion post-money, while Kalshi recently raised $300 million at a $5 billion valuation and is reportedly entertaining offers near $12 billion.
Adding to the frenzy, Trump Media’s Truth Social on Tuesday announced a partnership with Crypto.com to launch “Truth Predict,” a new on-platform event-trading product. “Prediction markets are poised to be a multi-deca-billion-dollar industry,” Crypto.com CEO Kris Marszalek said earlier this month.
Polymarket has opened a waitlist for U.S. users, and an onchain market tracking its domestic launch currently implies an 89% probability that the rollout will occur before the end of 2025, based on more than $5 million in trading volume.
The company also confirmed plans for a POLY token and accompanying airdrop, with Chief Marketing Officer Matthew Modabber saying the rollout will follow the U.S. launch. “There will be a token, there will be an airdrop,” Modabber said in an interview last week, adding that the goal is to create a token with “true utility and longevity.” The airdrop is expected to reward the platform’s most active users, according to market speculation.
