Polymarket to go live in the US by late November as sports betting becomes key battleground: Bloomberg

Prediction-market operator Polymarket is preparing to return to the U.S. market before the end of November, according to Bloomberg, citing sources familiar with the plans. This relaunch follows a 2022 enforcement action by the CFTC that forced the company offshore, which Polymarket has since addressed by acquiring QCX, a licensed derivatives exchange. The move positions Polymarket to compete in the growing sports betting sector, where federally regulated exchanges like Polymarket and rival Kalshi are gaining ground against state-bound sportsbooks. Both platforms recently secured multi-year licensing deals with the NHL. The sector is experiencing massive growth, with Polymarket and Kalshi handling over $6.3 billion in volume in October alone, supported by significant investments, including an estimated $9 billion post-money valuation for Polymarket. Furthermore, Polymarket confirmed plans for a POLY token and airdrop following its U.S. launch.

(Source：The Block)