Polymarket, a blockchain-based prediction market platform, is reportedly preparing for a comeback in the United States. The move comes amid a surge in investor interest, with the company’s valuation potentially soaring to $10 billion—ten times higher than its $1 billion valuation in June 2025.
The company, known for letting users wager on real-world events using crypto, is said to be in talks for a major funding round. Business Insider reports that Polymarket is seeking new investment after previously raising $200 million in a round led by Peter Thiel’s Founders Fund.
Polymarket’s Rise and Regulatory Challenges
Polymarket gained massive attention during the 2024 U.S. presidential election by accurately predicting Donald Trump’s victory, drawing thousands of users to its decentralized platform. However, in 2022, the Commodity Futures Trading Commission (CFTC) barred the company from operating in the U.S. following a settlement over offering unregistered binary options.
Since then, the platform has been operating outside the U.S. market—but recent developments suggest that may soon change. Polymarket has acquired QCX, a Florida-based company, which could serve as the key to its return. The CFTC has issued a no-action letter to QCX, allowing it to operate prediction markets under specific conditions. This regulatory approval could open the door for Polymarket’s reentry into the U.S., this time with a compliant structure.
Competitive Landscape: Kalshi Gaining Momentum
Polymarket isn’t the only player in the prediction market space making headlines. Kalshi, a rival platform also focused on event-driven trading, is reportedly closing in on a $5 billion funding round. Kalshi recently scored a major legal win when a federal court ruled in favor of allowing political event contracts—a decision that could reshape how prediction markets operate in the U.S.
Both Kalshi and Polymarket are experiencing growth in user activity, especially with the NFL season kicking off. Sports-related prediction markets continue to drive user engagement, alongside interest in political and financial event contracts.
As regulatory frameworks evolve, platforms like Polymarket and Kalshi are positioning themselves at the intersection of blockchain, finance, and public interest. If Polymarket secures the necessary approvals and funding, its return to the U.S. could be one of the biggest comebacks in crypto-finance history.
