Polymarket is officially back in the United States after securing long-awaited approval from the Commodity Futures Trading Commission (CFTC). The prediction platform has started rolling out its U.S. app to users on the waitlist.
This marks its first step into the country since leaving in 2022. Its return arrives at a time when prediction markets are gaining record attention and seeing rapid value growth.
Polymarket Gets Green Light to Return to the U.S.
Polymarket’s U.S. comeback follows the CFTC’s amended order of designation, which now allows the company to operate an intermediated trading platform. This approval removed the barrier that pushed the platform out of the country two years ago.
The prediction platform was fined $1.4 million and barred from serving Americans due to regulatory violations. The new approval clears a clean path forward. In its first phase, Polymarket is launching sports markets for U.S. users and plans to introduce more categories over time.
Polymarket Moves Forward After Past Regulatory Challenges
Polymarket’s history with U.S. regulators has been turbulent. During the Joe Biden administration, the Department of Justice opened an investigation into whether the platform was allowing U.S. users to trade.
The situation escalated when the FBI raided the home of CEO Shayne Coplan during the previous presidential election cycle. However, the DOJ closed the investigation earlier this year, clearing a major cloud hanging over the company.
With regulatory challenges behind it, Polymarket has seen rapid growth. The company raised $2 billion this October at a $9 billion valuation. This surge in investment was driven by growing demand for prediction markets and increased activity on the platform.
Polymarket Steps Back Into a Competitive Market
Polymarket’s return comes as competition intensifies. Market analysts expect the platform to challenge Kalshi, the long-standing U.S. prediction exchange that has operated under CFTC oversight since 2021.
Kalshi’s early regulatory approval gave it a head start, but Polymarket’s technology and user base have kept it relevant. The landscape is shifting quickly. Kalshi recently launched tokenized prediction markets on the Solana blockchain to attract more crypto-native users.
Polymarket has long run on the Polygon network, which helped it gain strong traction among blockchain users before its U.S. ban. Both platforms are now backed by major funding.
Kalshi’s co-founder Tarek Mansour announced that the company raised $1 billion at an $11 billion valuation. Kalshi also made a deal with CNN, which helps it grow its media reach as competition increases.
Polymarket’s return to the U.S. starts a new and active phase for prediction markets. As interest grows and new products roll out, the battle for market leadership is likely to intensify in the months ahead.