Polymarket Relaunches US Predictions Market iOS App After Regulatory Clearance

Polymarket has begun rolling out its iOS app to waitlisted users in the United States, a development the company shared on social media today. This step signals the platform's reentry into the American market after a nearly three-year absence prompted by regulatory action from the Commodity Futures Trading Commission. The app starts with sports markets and plans to expand to broader categories soon.

The prediction market operator, which runs on blockchain technology, faced restrictions in early 2022 for functioning as an unregistered derivatives exchange. At that time, the CFTC required event contracts to register as binary options, leading to enforcement against platforms like Polymarket. Now, with a shift in oversight, the company has cleared hurdles to resume operations.

Regulatory Shifts Pave Way for Prediction Market Growth

The CFTC's stance evolved following a 2024 court loss against Polymarket's competitor, Kalshi, which sought to offer political event contracts. That decision prompted a more accommodating regulatory environment for the sector, one of the quickest-expanding parts of the financial landscape. Polymarket took advantage of this by acquiring QCX, a licensed derivatives exchange and clearinghouse, for $112 million during the summer.

On November 25, the CFTC issued an Amended Order of Designation, granting Polymarket formal approval to operate in the U.S. under federal guidelines. Founded in 2020 by Shayne Coplan, an early Ethereum backer, the startup now focuses on sports betting as its initial U.S. offering. Company posts indicate intentions to extend markets to diverse topics in the coming phases.

Coplan previously faced inquiries from the U.S. Department of Justice over Polymarket's 2024 election markets, highlighting ongoing attention to the industry. Despite such scrutiny, both Polymarket and Kalshi have pursued partnerships to build their presence. These include deals with the National Hockey League and the Professional Pickleball Association, alongside efforts to secure exclusive arrangements with media outlets.

Polymarket recently teamed up with the fantasy sports application PrizePicks and positioned itself as the clearinghouse for DraftKings, the major sports betting platform, ahead of its predictions feature. Kalshi, meanwhile, partnered with Robinhood to enable betting on professional and amateur football, though it paused Super Bowl plans after CFTC input. Reports from Bernstein note that Robinhood has driven more than half of Kalshi's trading volume at peaks.

Legal challenges persist at the state level for Kalshi, particularly in Nevada and New Jersey over its sports products. A federal judge ruled in late November that Kalshi must adhere to Nevada's gaming regulations. Such disputes underscore the uneven terrain prediction markets navigate as they scale.

Trading activity has surged for both platforms in recent months, with Kalshi edging ahead in volume. October marked a record for event betting, as Kalshi recorded $5.81 billion against Polymarket's $3.7 billion. This momentum aligns with Polymarket's push for a $15 billion valuation, bolstered by a $2 billion investment from Intercontinental Exchange, the New York Stock Exchange's parent, at a $9 billion mark. The company also brought on Donald Trump Jr. as an advisor in August.

Kalshi wrapped up a substantial Series E funding round yesterday, placing its valuation at $11 billion. These financial boosts reflect investor confidence in prediction markets' potential, especially as they integrate with established betting and media ecosystems.

Social media responses to the app rollout have varied, with enthusiasm tempered by access hurdles. Many users celebrated the news, downloading the app and sharing excitement over the U.S. return. One post noted that Polymarket’s U.S. app has begun rolling out to waitlisted users, starting with sports markets and expanding to broader topics.

Others encountered frustrations upon opening the app, greeted by an invite-only prompt that blocked immediate use. The current phase limits entry to waitlist members with a invite code, and one user shared an invite code, "pookie," which works but apparently caps at the first 500 downloads. This restriction has sparked questions about switching from Kalshi, with some users weighing the effort against established alternatives.

Technical gripes have surfaced too, as U.S. signups rely solely on Apple and Google authentication. This setup prevents linking to prior Polymarket accounts created via email, forcing fresh registrations and potentially complicating asset transfers. Early reviews on the App Store average 4.9 stars, praising the interface for live trading and real-time sentiment tracking during events.

The app's design emphasizes seamless in-game trades on sports, with payouts exceeding traditional sportsbooks and no house edge. Users appreciate the ability to enter and exit positions without limits, a draw for those familiar with crypto's efficiency. As more waitlist spots open, Polymarket aims to draw in the over 30 million global users it already serves.

This launch arrives amid broader crypto sector gains, where platforms like Polymarket leverage blockchain for transparent, decentralized forecasting. The focus on sports taps into a massive audience, with plans to layer in geopolitics, news, culture markets, and of course crypto and other fan favorites. Early adopters report smooth performance, though the invite system suggests a measured expansion to manage demand.

Polymarket's trajectory points to deeper integration with daily finance and entertainment. By starting with familiar betting formats, it eases users into prediction tools that have proven sharper than polls in past elections. As regulatory clarity grows, expect fiercer rivalry with Kalshi, driving innovation in how Americans wager on real-world outcomes.

The platform's global volume hit over $3 billion in October alone, underscoring its scale. With U.S. access now live for select groups, Polymarket positions itself to capture a slice of the $100 billion annual sports betting industry. Android rollout and full market unlocks will likely accelerate adoption in the months ahead.