Polymarket Set to Disrupt US Prediction Markets Within Weeks - Bloomberg Confirms

Prediction markets are about to get a major shakeup as Polymarket prepares its US debut.

The controversial platform - where users bet real money on real-world outcomes - plans to launch stateside in the coming weeks according to Bloomberg sources.

Breaking Regulatory Barriers

Polymarket's expansion challenges traditional financial boundaries, offering what enthusiasts call 'information markets' while regulators see potential gambling concerns. The platform previously operated in regulatory gray areas before facing CFTC scrutiny.

Market Impact Potential

This move could test America's appetite for prediction markets at scale - putting real money behind political outcomes, weather events, and cultural phenomena. Traditional betting shops might need to watch their backs.

Because nothing says financial innovation like letting people bet on whether the Fed will cut rates while simultaneously shorting Treasury bonds - Wall Street's version of having your cake and eating it too.

The prediction platform was previously kicked offshore and paid a $1.4 million penalty in 2022 to settle allegations of illegal trading with the Commodity Futures Trading Commission. In the past year, it has grown in popularity abroad and is now set to make its official return to the US. Polymarket currently has a waitlist for users to sign up, which it said will soon be available. “We’re working hard to get the US platform ready for launch — in the meantime, provide your phone number below to receive updates,” the company said on its website.

Polymarket is an American cryptocurrency-based prediction market, headquartered in Manhattan, New York City. Established in 2020, the platform previously faced hurdles in operating its prediction platform in the US. However, its return to the US allows the company to return and continue its monstrous growth this decade. Polymarket’s return also coincides with an unprecedented wave of funding and trading growth. Together, Polymarket and Kalshi handled over $6.3 billion in volume so far in October, a near-record.

Earlier this month, NYSE parent Intercontinental Exchange, valuing the platform at approximately $8 billion. Furthermore, the platform’s upcoming POLY token and airdrop could further fuel competition among prediction-market platforms vying for retail and institutional users.