Polymarket readies US comeback with sports betting focus
The prediction market is planning a limited US launch by late November, following its acquisition of QCX and regulatory clearance earlier this year.
Key Takeaways
- Polymarket, a blockchain-based prediction market, is planning a US return focused on sports betting.
- The firm cleared past probes and secured CFTC-licensed infrastructure through its QCX acquisition.
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Polymarket, the blockchain-based prediction market platform, is preparing to reenter the US with a focus on sports betting, Bloomberg reported. Initial trading could start by late November, with limited access during the rollout.
The relaunch marks a major comeback for the firm, which paid a $1.4 million CFTC fine in 2022 and moved offshore. Polymarket has since acquired QCX, a company holding CFTC exchange and clearinghouse licenses, after the DOJ and CFTC dropped investigations earlier this year. The firm is also targeting a valuation between $12 billion and $15 billion.
