Polymarket readies US comeback with sports betting focus
Crypto Briefing
Polymarket plans a limited US return by late November, focusing on sports betting after regulatory clearance.Summary
Blockchain-based prediction market Polymarket is preparing to reenter the US market, concentrating its relaunch efforts on sports betting, potentially starting limited trading by late November. This comeback follows the firm paying a $1.4 million fine to the CFTC in 2022 and moving operations offshore. Crucially, Polymarket has since acquired QCX, which holds the necessary CFTC exchange and clearinghouse licenses, after both the DOJ and CFTC dropped their investigations into the platform earlier this year. The company is reportedly targeting a valuation between $12 billion and $15 billion.
(Source：Crypto Briefing)