Polymarket is relaunching in the U.S. after years of restrictions, starting with sports betting. Waitlisted users are gradually gaining access, with proposition and election markets coming soon.
The Polymarket prediction platform is being “rolled out to those on the waitlist,” the company said on Wednesday, nearly four years after the federal government ordered it to cease operations in the United States.
Only sports bets will be available at first, according to Polymarket, but other markets will be added later.
By self-certifying with the Commodities Futures Trading Commission (CFTC) on September 16 to offer sports event contracts, which make up a large portion of its competitors’ business, Polymarket announced its impending plans to resume operations. On September 30, it will offer proposition bets, possibly parlays, and election wagers.
Waitlist for Polymarket
Since September, would-be American users who have visited Polymarket. We were urged to sign up for a waitlist so that we would receive text messages when Polymarket’s US-facing website was prepared to take deposits and registrations.
The prediction market announced on Wednesday that it is now granting select clients from that list access. However, not every person on the list has received an invitation yet, and the website continues to route viewers to the waiting.
A version of Polymarket’s API had been available to a small group of large-scale dealers for weeks. According to data, on recent NFL Sundays, contracts worth hundreds of thousands of dollars were traded on that version of the platform, which only allows bets on NFL and NBA games.
By paying $112 million for already-registered QCEX in July, Polymarket was able to avoid the drawn-out process of CFTC registration, which can take years. On Sept. 3, creator and CEO Shayne Coplan said Polymarket received the “green light” to resume business in the U.S. after getting a no-action letter that concerns reporting standards.
Due to a 2022 settlement with the CFTC about the provision of unregistered event futures, the website has previously prohibited access from the United States.
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