In preparation for a domestic return following years of offshore operations, Polymarket has started a beta test of its U.S. exchange, according to a Bloomberg article on Wednesday.
When Polymarket announced the purchase of QCEX, a derivatives exchange and clearinghouse with the required licenses from the U.S. Commodity Futures Trading Commission (CFTC), in July, it first alluded to aspirations to reintegrate into the US market. A CFTC no-action letter supports the idea.
Polymarket to enter the U.S.
A small number of customers may now wager on actual contracts on the prediction platform, which has joined Yahoo Finance and Google Finance. According to reports, the team plans to commence its regulated US activities in late November.
The team continued by saying that although it completes the last procedures before granting broader access, the exchange is fully operational for a limited number of customers.
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Last month, Polymarket intended to begin a limited launch in the United States in November. The beta comes after a reset period during which Polymarket relocated overseas and settled CFTC complaints in 2022 by paying a $1.4 million fine.
After the Justice Department and the CFTC abandoned their investigations into the cryptocurrency betting platform, the business purchased QCEX earlier this year. QCEX was authorised by the CFTC to run a derivatives exchange and clearinghouse.
Polymarket presents its layout as more akin to a marketplace than a casino. “I don’t think anyone would argue that the sports book model is the optimal model,” Coplan said.
He added, “There’s a monopoly on pricing. You trade against the house every time, and they can set whatever prices they want, and to make matters worse, if you make any money, they can ban you.”
Polymaket’s founders’ net worth, funding, and valuation
Recently, Shayne Coplan, founder and CEO of Polymarket, became the youngest self-made billionaire when Intercontinental Exchange (ICE)
In October 2025, the parent company of the New York Stock Exchange announced a $2 billion strategic investment, valuing Polymarket at $9 billion.
Polymarket is seeking additional funding at a target valuation of $12 to $15 billion when it reenters the US market.
Polymaket’s ban across various countries
Thai authorities advised shutting the Polymarket website on January 14. The action comes as other countries across the world have also chosen to prohibit the betting site.
Polymarket has received another blow from regulatory authorities. According to allegations dating back to January 13th, Singapore formally prohibited the cryptocurrency betting platform Polymarket owing to its unlicensed status.
The restriction is consistent with other countries that have had disagreements with the online betting platform, limiting their populations’ ability to utilise it.
On November 29, 2024, Polymarket was officially banned by French authorities due to the large amount of money wagered during the 2024 US elections.
Polymarket had $3.5 billion in trade volume during the United States presidential election, but it is now on the verge of being outlawed by France’s National Gaming Authority (ANJ).