Polymarket to re-enter U.S. market within weeks

JH Kim

Summary

Polymarket said it has finalized the regulatory approval process and plans to re-enter the U.S. market within weeks.
It said it will initially resume services focused on sports prediction products and work on building legal infrastructure in the United States.
The re-entry is regarded as an example of expanding legal prediction market infrastructure and a strategy to target U.S. users.

Prediction market platform Polymarket is set to re-enter the U.S. market within weeks. The return is reported to focus on sports-related prediction products.

On the 28th (local time), Bloomberg reported that Polymarket has completed the regulatory approval process and is building the infrastructure to provide legal services within the United States. The company plans to initially reopen markets centered on non-financial areas such as sports match outcomes.

Polymarket is a blockchain-based prediction platform designed to allow users to predict and trade on outcomes across various topics including politics, economics, and sports. Since the 2021 action by the U.S. Commodity Futures Trading Commission (CFTC), it has operated services in a limited manner focusing on overseas users.

The re-entry is viewed as an example symbolizing the expansion of legal prediction market infrastructure in the United States. In particular, the sports-focused service strategy is interpreted as part of Polymarket's plan to re-target the market and secure a broad user base.