Polymarket begins testing US exchange ahead of planned relaunch
Polymarket is beta testing its US exchange with select users before its planned regulated relaunch.Summary
Polymarket has started a beta test of its US exchange, allowing a limited number of users to place bets on real contracts as it prepares for a domestic relaunch following years of offshore operations. This move follows Polymarket's acquisition of QCEX, a derivatives exchange holding necessary US Commodity Futures Trading Commission (CFTC) licenses, supported by a CFTC no-action letter. The platform is transitioning to an open exchange model where users set prices and back outcomes. Polymarket is also reportedly seeking new financing at a valuation target of $12 to $15 billion, up from its last pre-money valuation of $8 billion, which followed an announced commitment of up to $2 billion from Intercontinental Exchange (ICE), the parent company of the NYSE.
(Source：Crypto Briefing)