Prediction Market Polymarket Poised to Relaunch in US Within Days
Polymarket, a cryptocurrency-based prediction market on the Polygon network, is set to reopen to U.S. users after nearly four years, following the acquisition of QCX LLC (now Polymarket US) for $112 million. This acquisition secured a Designated Contract Market (DCM) license, allowing Polymarket to self-certify event contracts for the U.S. market. After waiting for CFTC approval in the form of a no-action letter regarding past violations, Polymarket is now able to offer regulated and self-certified markets in the U.S., although filings state markets will not begin before October 2, 2025. Polymarket gained prominence for correctly forecasting the 2024 U.S. presidential election outcome, and along with competitor Kalshi, commands significant weekly trading volume. CEO Shayne Coplan emphasized the importance of innovators shaping decentralized finance regulations, stating that the industry should create solutions aligning traditional financial rules with blockchain technology’s capabilities.
