The wait is finally over, and thousands of Americans are eager to place bets on their favourite sports teams. Polymarket has started granting access to select waitlisted users following regulatory clearance that paves the way for its highly anticipated US comeback.
The predictions platform announced on Wednesday on X that it will initially offer sports betting contracts before expanding to “markets on everything”. This marks an important turning point, roughly three months after the U.S. Commodity Futures Trading Commission granted a no-action letter to Polymarket’s acquired crypto derivatives exchange, effectively blessing its American operations.
For most people, the move could mean easy access to betting on sports and other events in a legal and regulated way. It could also open up new avenues for casual investors or fans to get involved in prediction markets.
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Prediction Market Wars Intensify
The timing could not be more strategic. Polymarket’s US return could propel the company to a $10 billion valuation, putting it in direct competition with rival Kalshi, which received its own regulatory clearance last week for blockchain-based US market operations and just secured $1 billion in funding at an $11 billion valuation.
Both platforms experienced explosive growth throughout 2024, largely fuelled by election-related betting activity. Token Terminal data reveals Kalshi processed $4.4 billion in October trading volume, slightly edging out Polymarket’s $3 billion. With such developments, prediction markets are likely to move from niche trading floors to mainstream finance as these platforms grow. This will change how regular investors interact with news, events, and even politics, making speculation a more common way for people to participate in the market.
