Blockchain-Based Polymarket Eyes U.S. Comeback by November: BBG

Polymarket, a crypto-native prediction market, is preparing for a formal relaunch in the U.S. as soon as November, according to a Bloomberg report. Trading will initially focus on sports-related markets with limited user access. Polymarket previously ceased U.S. operations in 2022 after settling charges with the Commodity Futures Trading Commission (CFTC) for running an unregistered derivatives platform, which resulted in a $1.4 million fine and a requirement to block U.S. users. Since then, it operated offshore. The path for a legal U.S. return was secured after Polymarket acquired QCX, a firm holding both exchange and clearinghouse licenses from the CFTC, following the closure of federal investigations by the CFTC and the Justice Department. Unlike competitors, Polymarket operates entirely on blockchain infrastructure using crypto, primarily stablecoins, for trading, and plans to introduce a native token tied to the crypto ecosystem.

(Source：CoinDesk)