Polymarket’s Anticipated US Launch Expected by November

Polymarket Poised for US Market Re-entry

Recent reports suggest that Polymarket, the prediction markets platform, is on track to officially launch in the United States by the end of November. This anticipated move could enable the platform to leverage key events such as the remaining football season and other major happenings.

Gradual Rollout with Beta Phase

Insiders familiar with the plans have indicated that Polymarket’s reintroduction to the US market will initially be limited through a beta testing phase. This gradual rollout aims to ensure a smooth launch, likely targeting a select group before opening to a broader audience.

Strategic Timing for Major Sporting Events

Launching by November positions Polymarket advantageously to capitalize on popular sports seasons like the NFL and NBA, along with marquee events such as March Madness, boosting its user engagement and market presence.

Significance of the US Return for Polymarket

Industry experts view Polymarket’s US market return as a pivotal development that could bolster its strong international foothold and elevate its overall valuation. This resurgence comes on the heels of a substantial investment, highlighting the company’s growth potential.

Noteworthy Investment from ICE

Earlier in the month, Intercontinental Exchange (ICE), a major player in global technology and data services and the owner of the New York Stock Exchange (NYSE), made a significant $2 billion investment in Polymarket. This capital injection has further solidified Polymarket’s financial strength and market prospects.

Plans for a New Cryptocurrency Token

Separately, Polymarket has announced plans to introduce its own cryptocurrency, tentatively named POLY. While detailed information remains limited, the company’s Chief Marketing Officer, Matthew Modabber, emphasized that the primary focus is on reestablishing the platform’s US presence first.

Future Announcements and Valuation Growth

Modabber has assured that once Polymarket secures its position in the American market, there will be further updates about the crypto token. Additionally, rumors circulate about an impending funding round that could potentially raise Polymarket’s valuation to between $12 billion and $15 billion.