Prediction Market Polymarket Begins Rolling Out US App

Core Insights - Polymarket has begun rolling out its U.S. app, marking its return to the American market after nearly four years of being shut out by the Commodity Futures Trading Commission (CFTC) [2][5] - The rollout follows a no-action letter from the CFTC that allows Polymarket to operate event contracts without triggering standard swap data reporting and recordkeeping mandates [3] - The company is launching its app with sports markets, with plans to expand to other event-driven markets in the future [2] Regulatory Developments - In January 2022, Polymarket was fined $1.4 million by the CFTC for failing to register and was ordered to shut down its markets and refund users [2] - The CFTC's no-action letter issued in September 2023 enabled Polymarket to re-enter the U.S. market under a regulated exchange structure [3][5] - Polymarket's CEO expressed gratitude for the constructive engagement with the CFTC and emphasized the company's commitment to operating transparently within the U.S. regulatory framework [6] Financial Backing - In October 2023, Intercontinental Exchange (ICE) announced a strategic investment of $2 billion in Polymarket, valuing the company at approximately $8 billion pre-investment [4] - The investment grants ICE a financial stake and a central role in distributing Polymarket's event-driven data, along with collaboration on tokenization initiatives [4]