Polymarket has officially returned to the US after receiving approval from the CTFC.
Four years ago, it was banned from operation by the CFTC; however, on Wednesday, it announced that the app had become available for the over 200,000 people who had signed up on its waitlist.
Sports event contracts are the first to appear on the prediction market platform. It will soon add “markets on everything” as international users can currently trade on politics, culture, and more.
The return has been teased since the summer, and a beta version opened last month after its official launch was delayed due to the government shutdown.
While Polymarket has made its debut, its competitor, Kalshi, has been facing legal battles in states such as Nevada, as its sports events contracts have caused controversy, with some regulators stating that they mirror sports betting.
Additionally, Polymarket’s return comes at a time when many sportsbook operators have stated their intentions to launch their own prediction markets. DraftKings and FanDuel have expressed their intentions to launch markets in states where sports betting is currently illegal, and Fanatics has just launched its platform, Fanatics Market, in 10 states.