Polymarket’s US Relaunch Expected Within Weeks

Polymarket is set to make a return to the US market within the next few weeks, according to industry insiders.

A report in Bloomberg states that the prediction market plans to commence trading by the end of November 2025, with a focus on sports betting markets initially. 

Polymarket presently has a waiting list for users to sign up to be informed on any US launch, with a section on the website for US users saying: “Polymarket will soon be available for US traders. We’re working hard to get the US platform ready for launch – in the meantime, provide your phone number below to receive updates.”

The report further states that the platform is unlikely to be offered to all users immediately.

Polymarket Moves Onto Kalshi’s Turf

Polymarket was previously an active player in the US, but agreed to leave the market after paying over $1.4 million in a dispute with the Commodity Futures Trading Commission (CFTC) over offering illegal trading contracts.

Since then, the US market has been dominated by Kalshi, which, until recently, only traded in the US, while Polymarket accepted users from around the globe. However, rival Kalshi has since entered a period of rapid expansion into over 140 countries, and has taken over a majority of the global prediction market share as a result.

Despite Polymarket being relegated to second place in terms of volume, the company remains more highly valued than its rival. Polymarket was valued at over $10 billion in a recent funding round and is now seeking further investment at a valuation of between $12 billion and $14 billion. In contrast, Kalshi’s last funding round valued the company at $5 billion.

In a further illustration of investors considering Polymarket to have the most potential, shares of more traditional sports betting companies took a significant hit following the Bloomberg report, with DraftKings falling by over 9% and Flutter Entertainment, the owner of FanDuel, falling by almost 5%. The two had also suffered downturns when Kalshi announced its expansion abroad, although the cut was far less severe.

Polymarket’s return to the US is likely to be facilitated by its acquisition of QCEX, a derivatives exchange and clearing house, which was purchased for $112 million in July 2025. Since QCEX already holds a license from the CTFC, the move should help mitigate any regulatory issues that may arise.

Polymarket Allows Bets on Its Own Launch Date

Polymarket itself also offers a market on whether the company will relaunch in the US in 2025, with a Yes determined as “if a real-money trade is publicly placed on a regulated, Polymarket-operated Designated Contract Market (DCM) by December 31, 2025, at 11:59 PM ET.”

Following the Bloomberg report, the likelihood of a 2025 launch increased. The report led to a shift in support for Yes from around 85% back to 90%, although it remained behind the 98% that was being traded at the beginning of the month.