Polymarket moves forward with US comeback as iOS rollout begins

Prediction market operator Polymarket has begun rolling out access to its US exchange for iOS users after ending a waitlist period that lasted more than six months.

The launch allows US customers using Apple devices to access trading markets directly through the app rather than entering through an invitation-only signup screen. The platform still does not have an Android application, and the company has not indicated when one may become available.

“Polymarket’s US app is now being rolled out to those on the waitlist,” the company’s website states. “Provide your phone number below to secure your spot & be notified when it’s your turn.”

The rollout follows the company’s acquisition of Commodity Futures Trading Commission (CFTC)-licensed exchange QCEX in July 2025, a transaction that enabled Polymarket to operate under QCEX’s regulatory approval structure.

Industry observers had anticipated a US relaunch late last year after the CFTC issued an amended order of designation.

Regulatory history and relaunch

Polymarket launched in 2020 but was restricted from operating in the United States after reaching a settlement with the CFTC in 2022 over unregistered derivatives offerings. The settlement included a $1.4 million fine and barred the company from providing access to US users.

The company’s return to the market follows its receipt of futures commission merchant status, allowing it to offer event contracts in the United States.

Polymarket’s US operations have also drawn attention in other ways. In November 2024, the FBI raided the New York apartment of founder Shayne Coplan.

The relaunch timeline extended beyond earlier expectations. Coplan had previously said the platform had a “green light” to launch in September 2025 ahead of the NFL season, though the company remained in a limited-access phase for months afterward. The delay may have stemmed from operational issues involving QCEX.

Competition with Kalshi

While Polymarket describes itself as the world’s largest prediction market by volume, rival Kalshi established a significant lead in the United States during Polymarket’s absence from the regulated market.

Some industry estimates place Kalshi’s share of US prediction market volume at 90%, with Polymarket and Crypto.com accounting for most of the remainder.

The gap in market position has also appeared in company valuations. Polymarket is reportedly seeking funding at a $15 billion valuation, while Kalshi recently completed a funding round valuing the company at $22 billion.

Despite its restricted status in the US, Polymarket had already become the country’s second-largest prediction platform by trading volume earlier this year, surpassing Crypto.com in March.

The company reported spikes in sports-related trading activity during major events, including approximately $60 million in trading volume during the opening rounds of March Madness and more than $90 million during the 2026 Masters tournament. Its average daily trading volume over the last week was reported at nearly $50 million, though still below Kalshi’s figures.

Trading activity and user demand

Data from Dune Analytics showed Polymarket’s notional trading volume declined in April, the first monthly decrease in eight months, while Kalshi posted double-digit percentage growth during the same period.

At the same time, demand for access to Polymarket’s US platform remained substantial. Reports indicated that more than 1.4 million customers had joined the waitlist before the latest rollout.

Before the official relaunch, many US-based users were believed to have accessed the platform through virtual private networks, or VPNs, which mask internet protocol addresses and user locations.

Interest in prediction markets has continued to grow in the United States. A recent survey found that 15% of Americans had purchased sports event contracts, compared with 27% who reported holding an active sportsbook account.