Key Moments:
- Polymarket could return to the US on a limited basis by the end of November, according to sources cited by Bloomberg.
- Intercontinental Exchange (NYSE: ICE) recently acquired a $2 billion stake in Polymarket, valuing the company between $9 billion and $10 billion post-transaction.
- Sports contracts are expected to be central to Polymarket’s strategy for reentering the US market.
Polymarket Poised for US Reentry
Polymarket is reportedly preparing to reenter the US market by the end of November. The move would introduce a fresh option for those interested in sports prediction markets. The exchange, which exited the US in 2022 amid regulatory disputes, is not expected to open to all users immediately. Instead, the company is seeking beta testers and has established a wait list for early access.
Bloomberg reported Tuesday that Shayne Coplan’s company could be operational by the end of next month. The timing coincides with the end of college football’s regular season, the late stages of the NFL, and the start of the NBA and college basketball seasons.
If Polymarket resumes operations in the US next month, it will mark about a year since the FBI raided Coplan’s Manhattan apartment.
It will also be more than three years since the company was forced to leave the country over regulatory issues with the Commodities Futures Trading Commission (CFTC).
Polymarket is back in the U.S. with CFTC’s blessing.
Wild how we went from FBI raiding Shayne Coplan’s apartment to regulators rolling out the welcome mat.
Are we witnessing the rebirth of innovation—or the rise of gov run digital casinos? pic.twitter.com/El8YM8iMVA
— Caps of Jan (@JanDelving) September 4, 2025
Valuations Surge as Competition Intensifies
Polymarket’s potential return comes as valuations in the prediction market sector continue to soar. Earlier this month, Intercontinental Exchange (NYSE: ICE), owner of the New York Stock Exchange, invested $2 billion in Polymarket at a pre-money valuation of $8 billion.
That pushed the post-transaction valuation to between $9 billion and $10 billion. This deal resulted in Shayne Coplan becoming the youngest self-made billionaire on record.
Rumors last week suggested that Polymarket may pursue another funding round at a valuation of $12–15 billion. Its main rival, Kalshi, recently completed a raise at $5 billion and is reportedly in talks for another round at $10–12 billion. Kalshi reportedly generates more than 80% of its current turnover from sports event contracts, highlighting the strategic importance of this segment as Polymarket aims for a US return.
| Company | Recent Valuation | Focus |
|---|---|---|
| Polymarket | $9-10 billion (post-ICE investment) | Prediction markets with crypto integration |
| Kalshi | $5 billion (recent), $10-12 billion (rumored raise) | Sports event contracts dominate turnover |
Industry commentators attribute much of the valuation disparity to Polymarket’s stronger emphasis on cryptocurrencies. The platform’s operations are supported by blockchain technology and utilize digital currencies, primarily stablecoins, for trading activities.
Crypto Community Watches for Polymarket’s Next Move
News about Polymarket’s possible US comeback has drawn attention from the crypto sector. There is growing speculation that reentering the US market could precede the launch of a proprietary cryptocurrency or an associated airdrop. While a “POLY” token is said to be in development, sources indicate that concrete steps toward launching it will remain on hold until the company’s US plans are finalized.
Polymarket’s efforts take place in an increasingly competitive prediction markets landscape. DraftKings (NASDAQ: DKNG) recently disclosed an acquisition that will help shape DraftKings Predictions, while Trump Media and Technology Group (NASDAQ: DJT) and Crypto.com on Tuesday announced a partnership for integrating event contracts into Truth Social.
- Author
Daniel Williams
