Polymarket platform resumes operations in the US in closed beta mode

After three years, the prediction market platform Polymarket has officially resumed operations in the United States. However, for now it is available only in a closed beta version for selected users.

“The US exchange is already launched and operating, and people are connecting to it. Essentially, this is beta testing,” said the company’s founder Shane Coplan.

Reports about Polymarket’s return to the US first appeared in late October, shortly after the U.S. Commodity Futures Trading Commission (CFTC) allowed the platform to resume operations in the country through its newly acquired firms QCX and QC Clearing.

Back in 2022, the CFTC claimed that the prediction market was offering unregistered users binary options based on U.S. event outcomes. The firm then paid a $1.4 million penalty to settle the charges and ceased its operations in the US.

This year, the commission granted approval for Polymarket to return after the platform updated its legal structure and appointed Donald Trump Jr. to its advisory board.

“This is the fastest market launch in history. It was definitely a challenging task, but our team executed it perfectly,” Coplan said.

Following its US launch, Polymarket will primarily focus on the sports market. The company has already secured partnerships with PrizePicks and a clearing agreement with DraftKings for their upcoming prediction-related product.

See also: "Taiwan Authorities Discuss Creation of a National Bitcoin Reserve"

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