Polymarket has relaunched in the U.S. under closed beta after resolving regulatory issues with the CFTC. The platform now eyes a full launch with major partnerships and a $12–15B valuation target.

"Back in 2022, the CFTC alleged that Polymarket was offering unregistered event-based binary options to U.S. users. The firm paid a $1.4 million penalty to settle the charges and ceased U.S. operations as part of the agreement. Fast forward to 2025, the commission reversed course under a new leadership team and granted regulatory clearance after Polymarket revamped its legal structure and brought Donald Trump Jr. onto its advisory board. Subsequently, the company moved to acquire QCEX, a fully regulated exchange and clearinghouse, in a $112 million deal after the platform faced mounting demand tied to its election markets and rising retail interest. That acquisition gave Polymarket the regulatory infrastructure it needed to operate legally within the United States. After its US launch, Polymarket will be focused primarily on the sports market and has already formed partnerships that give it an early foothold, including its integration deal with PrizePicks and its clearing arrangement for DraftKings’ upcoming predictions product."

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