Polymarket, an online election betting platform, is preparing to bring its prediction markets back to U.S. customers after successfully forecasting President-elect Donald Trump’s electoral win.
In an interview on “Squawk Box,” Polymarket founder and CEO Shayne Coplan credited those who fought to legalize political prediction markets in the U.S., positioning the company for aggressive expansion.
Polymarket’s platforms are currently available only outside the U.S., following a 2022 halt of its operations in the country and a $1.4 million settlement with the Commodity Futures Trading Commission for failing to register.
The shift in the U.S. regulatory landscape has paved the way for Polymarket’s return. In October, the U.S. Appeals Court lifted a freeze on election contracts from competitor Kalshi, which allowed other platforms, including Interactive Brokers and Robinhood, to launch similar products.
The potential for these betting platforms has been recognized by key figures like Interactive Brokers founder Thomas Peterffy, who believes they could surpass equities markets in the future.
Robinhood CEO Vlad Tenev highlighted the reliability of election betting outcomes, stating that financial stakes make these markets more accurate than traditional polls.
Polymarket’s success in predicting Trump’s victory reflects the growing influence of prediction markets in shaping political discourse.
Peoplesmind
