Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Blockchain prediction market Polymarket is gearing up for a return to the United States as it aims for a potential valuation of $10 billion, as reported by Business Insider on Friday.
Key Takeaways:
- Polymarket is strategizing its re-entry into the U.S. market while pursuing a valuation of up to $10 billion.
- The platform gained popularity after successfully forecasting Trump’s 2024 victory but encountered regulatory challenges.
- With clearance from the CFTC and increasing competition from Kalshi, Polymarket is re-entering a competitive prediction market landscape.
The company is reportedly in negotiations to secure new funding that could more than triple its last known valuation of $1 billion from June.
Polymarket enables users to trade on the outcomes of real-world events without depending on a centralized bookmaker.
Polymarket Gained Attention After Accurately Predicting Trump’s 2024 Victory
Polymarket gained significant attention during the 2024 U.S. presidential election, where its markets correctly predicted Donald Trump’s win, enhancing its reputation and expanding its user base.
In June, the firm was in the process of raising $200 million in a funding round led by Peter Thiel’s Founders Fund. However, its expansion was previously hindered by regulatory limitations.
In 2022, Polymarket had to exit the U.S. market following a settlement with the Commodity Futures Trading Commission (CFTC).
This situation changed in July when Polymarket acquired Florida-based derivatives exchange QCX. Last month, QCX received a no-action letter from the CFTC, providing relief from specific regulatory obligations.
Polymarket CEO Shayne Coplan stated that the letter effectively “gives the platform the green light to go live in the USA.”
.@Polymarket is in discussions regarding a new funding round and is preparing to return to the U.S.
The company’s valuation could increase from $1B to $10B.https://t.co/mbEZCjJfsC pic.twitter.com/LU1tLqhtoH— ICO Drops (@ICODrops) September 13, 2025
This development marks a new phase in the increasingly competitive prediction market sector. Competing platform Kalshi is also making news, reportedly nearing a $5 billion funding round after raising $185 million earlier this year in a Paradigm-led initiative.
Related Posts
Kalshi’s progress accelerated following a 2024 court ruling that permitted it to offer political-event contracts, a decision that the CFTC initially contested but later withdrew.
This ruling allowed Kalshi to operate within the existing regulatory framework, providing it with a regulatory edge.
While both platforms have experienced a decline in user activity since the 2024 election cycle, interest seems to be on the rise.
The start of the NFL season has rekindled market engagement, with Kalshi recording $441 million in trading volume since Week 1.
Kalshi Sues Nevada and New Jersey Over Sports Contract Ban
In March, Kalshi initiated a lawsuit against the Nevada Gaming Control Board and the New Jersey Division of Gaming Enforcement, contesting recent cease-and-desist orders that compelled the firm to halt its sports-related contracts in both states.
Kalshi contends that its contracts fall under the regulatory jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC), rather than state-level gaming regulators.
The company asserts that its event contracts operate as two-sided swap markets, in contrast to traditional sports betting models where the house determines and controls the odds.
“Prediction markets are a critical innovation of the 21st century, and like all innovations, they are initially misunderstood,” remarked Kalshi co-founder Tarek Mansour.
“We are proud to be the company that has pioneered this technology and stand ready to defend it once again in a court of law.”
The legal conflict also arises amid increasing regulatory scrutiny from Nevada, where officials issued a cease-and-desist order regarding Kalshi’s election-based contracts.
Recently, the CFTC announced that it is reviewing Super Bowl-related prediction contracts offered by Crypto.com and Kalshi Inc. to assess their compliance with federal derivatives regulations.
The post Polymarket Targets $10B Valuation Amid Plans for US Relaunch appeared first on Cryptonews.
