(MENAFN- Crypto Breaking) Recent reports indicate that Polymarket, a leading crypto prediction platform, is preparing to re-enter the U.S. market within weeks. The company aims to relaunch limited trading services, initially focusing on sports betting, after receiving regulatory green light. This development signals a significant step in the evolving landscape of crypto regulation and the growth of blockchain-based prediction markets in the United States.

• Polymarket plans to relaunch in the U.S. with limited trading, emphasizing sports betting, as soon as late November.
• The move follows a no-action letter from the CFTC, paving the way for Polymarket's return to American markets.
• Valuations of Polymarket could reach up to $10 billion if the U.S. re-entry materializes fully.
• Coincidentally, Trump 's Truth Social platform announced plans to incorporate prediction markets through a partnership with Crypto.
• The legal landscape for prediction platforms like Kalshi and Polymarket is shifting, with recent regulatory wins fueling hopes for mainstream adoption.

Prediction platform Polymarket is poised to make a significant comeback in the United States, with plans to launch limited trading services within the next few weeks. The company's initial offering will focus on sports betting, a sector that has garnered considerable interest amid growing mainstream acceptance of blockchain-related products. The relaunch comes shortly after regulatory actions that have begun to clear the way for crypto derivatives and prediction markets in the U.S.

According to a Tuesday Bloomberg report citing sources familiar with the matter, Polymarket has received a no-action letter from the U.S. Commodity Futures Trading Commission (CFTC). This letter allows the platform to operate without fear of regulatory action while it conducts certain activities, setting the stage for its return. The company's CEO, Shayne Coplan, confirmed that Polymarket was preparing to“go live in the USA,” marking a significant milestone in its expansion efforts.

Source: Polymarket

Polymarket's potential U.S. re-entry has generated buzz, especially given its substantial valuation. Reports from September suggest the platform could be valued as high as $10 billion once fully back in U.S. markets-a stark increase from its estimated $1 billion valuation in June, following a $200 million funding round. The platform's renewed efforts reflect the rising popularity of crypto-based prediction markets, which combine elements of DeFi, speculative trading, and event forecasting.

While Polymarket prepares for its comeback, other prediction platforms are also navigating regulatory hurdles. For instance, Kalshi, another market leader, successfully challenged the CFTC's order to halt political event contracts after an appeal, highlighting a shifting legal landscape. Many industry observers see these wins as a positive sign for the broader adoption of blockchain-based prediction markets within the U.S. regulatory framework.

US President Moves into Prediction Markets

Meanwhile, U.S. political figures are entering the prediction market space. On Tuesday, Trump Media and Technology Group, co-founded by former President Donald Trump, announced plans to introduce prediction markets on its social media platform, Truth Social. The platform intends to partner with cryptocurrency exchange Crypto, aiming to join platforms like Kalshi and Polymarket in offering decentralized event prediction services.

These developments underline an increasing acceptance of blockchain-based finance products, including NFTs, crypto derivatives, and decentralized prediction platforms. The legal landscape appears to be gradually shifting in favor of mainstream adoption, bolstering confidence in the future of crypto markets and digital assets.

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