Prediction platform Polymarket is reportedly considering launching trading services in the United States in a few weeks.
According to a report published Tuesday by Bloomberg citing people familiar with the matter, Polymarket plans initially launch limited transactions accessible to US residents before the end of November, with a focus on sports betting.
The stimulus report came about two months after the U.S. Commodity Futures Trading Commission (CFTC) said it had issued a no-action letter to a crypto derivatives exchange and clearing house acquired by Polymarket. The move paved the way for the company to expand into the United States, according to CEO Shayne Coplan.
Reports from September suggest that, if Polymarket were to reopen its doors to US markets, the company could have an evaluation up to $10 billion. From June, the prediction platform was valued at approximately $1 billion following a $200 million funding round.
Related: Predictions platform Kalshi sues New York regulator, alleging excessive infringement
On Tuesday, Polymarket’s website posted a waiting list, saying it would be “available soon to U.S. merchants.” Cointelegraph reached out to the company for comment but did not receive a response at the time of publication.
The American president enters the prediction market
On Tuesday, Trump Media and Technology Group, the company co-founded by US President Donald Trump, announced plans to activate prediction markets through its social media platform, Truth Social. The social media company announced that it will partner with cryptocurrency exchange Crypto.com to join platforms such as Kalshi and Polymarket to offer prediction markets to users.
Kalshi’s own legal battle with the CFTC may have paved the way for Polymarket’s return to the United States. In 2023, the regulator ordered Kalshi to stop offering contracts for political events, sparking an appeal that ended in the company’s favor.
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