Polymarket Considers US Comeback Through $112 Million Crypto Exchange Purchase

Polymarket, the cryptocurrency-based prediction platform, is reportedly contemplating a return to the United States market by potentially acquiring a registered crypto exchange. The prospective deal could be valued at approximately $112 million, marking a strategic entry into the regulated US market.

Polymarket currently faces regulatory constraints in the US stemming from a previous settlement agreement with the Commodity Futures Trading Commission (CFTC). This agreement prevents the platform from offering its services to American users. However, acquiring a regulated exchange is viewed as a potential avenue to circumvent these hurdles and regain access to the US customer base.

The name of the targeted crypto exchange has not been disclosed, but reports indicate it is a fully licensed entity compliant with existing US regulations. This would provide Polymarket with the necessary legal and regulatory infrastructure to operate lawfully within the United States.

If the deal is finalized, Polymarket is expected to integrate its prediction platform with the acquired exchange’s operations. This would allow US users to participate in prediction markets on a wide range of events, including politics, economics, and current affairs.

This move comes as the crypto-based prediction market is experiencing increasing interest, with users seeking novel ways to express their opinions and wager on the outcomes of future events. Polymarket’s entry into the US market could solidify its position as a major player in this emerging field.