Polymarket US Relaunch: Complete Guide for American Traders

On December 3, 2025, Polymarket officially returned to the United States after a nearly 4-year ban. Armed with CFTC approval, a $112M acquisition of licensed exchange QCEX, and $2 billion from NYSE parent ICE, the platform launched an iOS app that hit #1 in the App Store sports chart. Here's everything US traders need to know about the relaunch—what's available now, what's coming, and how it compares to competitors.

The Regulatory Path to Relaunch

Timeline

• January 2022: CFTC fined Polymarket $1.4M for unregistered derivatives trading; US users blocked
• July 2025: Polymarket acquired QCEX (CFTC-licensed exchange) for $112M
• July 2025: DOJ and CFTC dropped ongoing investigations
• October 2025: ICE (NYSE parent) invested up to $2B at $9B valuation
• November 12, 2025: Beta launch for select US users
• November 25, 2025: CFTC issued Amended Order of Designation
• December 3, 2025: Public iOS app launch with waitlist

What the CFTC Approved

The CFTC granted Polymarket status as a fully regulated Designated Contract Market (DCM) under the Commodity Exchange Act. This means:

• Polymarket operates under the same regulatory framework as the Chicago Mercantile Exchange
• Users can trade through Futures Commission Merchants (FCMs)
• Full compliance with surveillance, clearing, and reporting requirements
• Legitimate, regulated prediction market trading for US residents

What's Available Now (December 2025)

Sports Markets Only

The initial US launch focuses exclusively on sports betting:

• NFL game winners
• College football
• NBA
• NHL
• College basketball
• Soccer
• UFC (exclusive partnership announced November 2025)

Platform Details

• iOS app: Available now (4.8-star rating, 29,000+ reviews)
• Android: "Coming soon"
• Waitlist: 200,000+ users signed up
• Access: Rolling invitations to waitlist members
• Payments: Fiat integration (not just crypto)

How the Waitlist Works

1. Download the iOS app from the App Store
2. Enter your phone number
3. Receive a waitlist number via text
4. Wait for your invite code (rolling basis)
5. Once invited, you can access available markets

As of early December, select users are receiving invitations. The rollout is expected to continue through December 2025 and into early 2026.

When Will Political Markets Be Available?

Polymarket has not announced a specific date for political market access in the US. Based on available information:

• Wider rollout planned for early 2026
• Platform positioned to be ready for 2026 midterm elections
• Political markets explicitly mentioned as "coming soon" in the app
• Additional CFTC approvals may be required for non-sports contracts

For now, US users who want to trade political markets must use Kalshi, which has offered CFTC-regulated political contracts since 2024.

Polymarket vs. Kalshi: US Comparison

The QCEX Acquisition

Polymarket's US return was made possible by acquiring QCEX for $112 million in July 2025:

What Polymarket Bought

• QCX LLC: CFTC-designated contract market (DCM)
• QC Clearing LLC: Registered derivatives clearing organization (DCO)
• Now operates under the assumed name "Polymarket US"
• Headquartered in Boca Raton, Florida

Why This Matters

Getting CFTC registration from scratch can take years. By acquiring already-licensed entities, Polymarket bypassed the lengthy approval process and gained immediate access to US markets with compliant infrastructure already in place.

The ICE Investment

In October 2025, Intercontinental Exchange (ICE)—owner of the New York Stock Exchange—invested up to $2 billion in Polymarket:

• Investment: Up to $2 billion for ~20% stake
• Valuation: $8B pre-money, $9B post-money
• Partnership: ICE will distribute Polymarket's event-driven data globally
• Future plans: Collaboration on tokenization initiatives

This represents the largest investment by a conventional financial institution in a DeFi-adjacent business, signaling mainstream Wall Street validation of prediction markets.

State-Level Regulatory Concerns

While Polymarket has federal CFTC approval, state-level regulatory issues remain unresolved:

• Some states may impose additional licensing requirements
• Event-based contracts intersect with state gambling jurisdiction
• State regulators could issue cease-and-desist orders
• Federal preemption precedent exists from Kalshi rulings, but landscape is uncertain

Polymarket uses intermediated access through registered FCMs rather than direct sign-ups, which may help navigate state requirements. However, clarity awaits court decisions and potential state actions.

What's Coming Next

Near-Term (Q1 2026)

• Wider US user rollout
• Point spreads and totals for sports
• Android app launch
• Additional FCM partnerships

Mid-Term (2026)

• Political markets including election betting
• Finance, economy, and cryptocurrency markets
• Culture and entertainment markets
• Platform positioned for November 2026 midterm elections

Long-Term (2026+)

• POLY token launch: Projected for 2026 after US platform is stable
• Airdrop: 5-10% of token supply for users based on trading activity
• Full parity with international Polymarket features

Key Takeaways for US Traders

• Polymarket is back in the US after a 4-year ban with full CFTC approval
• Currently sports only—political markets coming later
• 200,000+ on waitlist; rolling invitations ongoing
• iOS available now; Android coming soon
• Backed by $2B from NYSE parent company ICE
• POLY token and airdrop expected in 2026
• For political betting now, Kalshi is the US-regulated alternative