Polymarket has officially relaunched its US operations, rolling out its sports betting app to waitlisted users following a regulatory green light from the Commodity Futures Trading Commission.
Key Takeaways
- Polymarket’s US app is now live for waitlisted users, starting with sports betting and expanding soon to other event markets.
- The CFTC issued a no-action letter in September, allowing the platform to reenter the US after a 2022 regulatory ban.
- Polymarket’s iOS app briefly hit the number one spot in the US App Store’s free Sports category, outpacing major players like FanDuel and ESPN.
- Trading volume surged past $3 billion in October, with the company potentially eyeing a valuation of up to $15 billion.
What Happened?
Polymarket has launched its US mobile app after securing regulatory approval from the CFTC. The platform, which was previously banned in 2022 for offering unregistered event-based derivatives, is making a strong comeback by targeting the sports betting space. Its initial rollout includes only waitlisted users and sports-related markets, but broader offerings are planned soon.
Against all odds.
— Polymarket (@Polymarket) December 3, 2025
Polymarket’s U.S app is now being rolled out to those on the waitlist.
We’re launching with sports — followed by markets on everything. pic.twitter.com/WOoVMszrqc
Polymarket’s Return After Regulatory Setback
After a three-year absence from the US market, Polymarket’s comeback is built on compliance. The company resolved its prior regulatory issues with a $1.4 million settlement to the CFTC in 2022 and agreed to halt US operations. In September 2024, Polymarket obtained a no-action letter from the CFTC, a pivotal move that allowed it to relaunch legally in the country.
To align with US regulations, the company acquired a crypto derivatives exchange and clearinghouse, transitioning into an intermediated exchange under federal guidelines. This structural shift laid the groundwork for its phased US rollout.
App Store Success and User Demand
Polymarket’s iOS app debuted with strong momentum, briefly reaching the number one position in the free Sports category of the US App Store. It overtook names like FanDuel, DraftKings, ESPN, Amazon, and TikTok, a significant feat for a platform still in its beta stage. Though it later dropped to the number three spot, the early surge showed clear user interest.
The app received 29,000 ratings averaging 4.8 stars, showcasing its polished interface and innovative features like in-game trading, tighter spreads, and peer-to-peer betting with no house edge. These enhancements have helped differentiate Polymarket from traditional sportsbooks.
Expanding Beyond Sports
Currently focused on sports markets with fiat integration, Polymarket plans to add proposition and election markets in upcoming phases. The platform envisions “markets on everything,” reflecting its broader mission to become a real-time sentiment tracker for everything from politics to culture.
Polymarket’s contracts are USDC-collateralized, offering real-time probability updates and instant cash-outs, unlike traditional sportsbooks with built-in margins and slower settlements. The platform charges a flat 2 percent fee, providing transparency and fairness in its pricing model.
Competitive Landscape and Valuation Growth
The relaunch comes amid booming interest in prediction markets. Kalshi, Polymarket’s top competitor, recently raised $1 billion at an $11 billion valuation. Polymarket, already seeing over $3 billion in trading volume for October, is reportedly aiming for a valuation between $10 billion and $15 billion after expected funding rounds.
Major players are watching closely. Coinbase is developing a platform backed by Kalshi, and Truth Social, co-founded by former President Donald Trump, has also expressed interest in launching prediction markets.
CoinLaw’s Takeaway
I’ve followed Polymarket’s journey since its early days, and this relaunch feels like a major inflection point. Climbing to the top of the App Store in a matter of days is no small feat, especially in the crowded US sports betting scene. In my experience, users are hungry for platforms that feel more like active markets than static bets, and Polymarket delivers exactly that. With crypto-backed fairness, peer-to-peer functionality, and regulatory clearance, it’s positioned not just to compete, but to redefine how people engage with predictions in the US. If the expansion into political and cultural markets hits the same stride, this could be one of Web3’s strongest cases for mainstream adoption yet.
