Polymarket, the blockchain prediction platform, is preparing to return to the U.S. and raise new funds that could push its value as high as $10,000,000,000, a person familiar with the talks said Friday. 

The company plans a U.S. relaunch after buying a Florida derivatives exchange and gaining regulatory relief tied to that deal. Polymarket was blocked from serving U.S. customers in 2022 after a settlement with the Commodity Futures Trading Commission.

The move to re-enter follows a series of corporate steps this year and comes as the firm seeks fresh capital to expand.

Background

Polymarket lets people trade on event outcomes without a central bookmaker. The site drew wide attention during the 2024 U.S. presidential election, when its markets predicted the result. 

At that time, trading on the platform surged and reached about $3,500,000,000 in volume around the election.

Also Read: Polymarket Records $1.1B May Volume, Extends Four-Month Growth Streak

Funding and valuation

In June, Polymarket was raising a $200 million funding round led by Founders Fund. That round put the company near a $1,000,000,000 valuation in June. 

Recent conversations with investors suggest some see a much higher ceiling. One investor suggested that the value could increase to $10,000,000,000 if the company secures new funding and returns to the U.S. market.

Corporate moves toward a U.S. return

Polymarket bought QCEX, the holding firm tied to the Florida exchange QCX and QC Clearing, for $112,000,000 this week. 

The acquisition followed a July purchase of QCX and a September letter from the CFTC that gave QCX special relief from some federal reporting and recordkeeping rules for event contracts. 

Polymarket’s CEO, Shayne Coplan, said the CFTC decision gives the platform what he called the green light to resume operations in the U.S.

Regulatory history and recent developments

U.S. regulators had barred Polymarket from serving American customers in 2022 after enforcement action by the CFTC. The company later faced a probe that regulators recently closed. 

The QCX acquisition and the CFTC letter appear to be key steps toward a regulated return. Polymarket’s leadership says the legal and operational work now points toward relaunch.

Global legal pressure

Outside the U.S., Polymarket has seen legal trouble, as Thailand moved to block the platform on Jan 14, citing regulatory concerns. 

We reported, Singapore blocked access on January 13 because the site lacked a license there. France is reportedly preparing its own ban, citing heavy betting activity during the 2024 U.S. election. These moves show that nations are taking action even as the company seeks a path back to the American market.

Why it matters?

If Polymarket wins approval to operate in the U.S., it would reintroduce a large and active trading venue for event contracts under a regulated framework. 

That could reshape how prediction markets operate, and it could attract more institutional money. For investors, a U.S. relaunch would reduce legal uncertainty and possibly unlock higher valuations.

What could happen next?

Polymarket will likely seek the new funding it mentioned to support its U.S. push. Regulators will still review the exchange setup and the clearing arrangements tied to QCX. 

Other countries may press their own cases, which could limit the platform’s reach while it sorts U.S. approvals.

Polymarket’s path back to the U.S. looks clearer than it did two years ago, but hurdles remain. The company has taken financial and legal steps to return.

Also Read: Decentralised Betting Platform Polymarket Nears $200M Round As Valuation Tops $1B