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Polymarket Re-enters U.S. Market with CFTC Approval, Focuses on Sports Predictions
Polymarket Re-enters U.S. Market with CFTC Approval, Focuses on Sports Predictions
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BTCCSquare news:
Polymarket has secured regulatory clearance from the Commodity Futures Trading Commission to operate as a prediction market exchange in the U.S. The platform, which faced a 2022 ban and $1.4 million penalty for compliance failures, will initially offer sports wagering before expanding into other sectors.
The relaunch follows the Justice Department's July decision to close its investigation into the company. Polymarket's $2 billion October funding round valued the firm at $9 billion, positioning it to compete with traditional prediction platforms by leveraging crypto-native advantages on Polygon.
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