Polymarket, a blockchain-based platform for betting on real-world events, has reached a significant milestone by creating more new markets than ever before. According to the announcement, this comes as the platform prepares to return to the United States. Polymarket is Bent on Setting New Records Shayne Coplan, the CEO of Polymarket, noted that the platform has also received important support from regulators. The Commodity Futures Trading Commission (CFTC) decided not to take action on certain reporting and recordkeeping rules for event contracts. This decision followed a formal request from QCX, a group that supports clear regulations in decentralized finance (DeFi). It is also worth noting that the CFTC’s no-action letter is important for the platform as it re-enters the U.S. market, which it had left due to regulatory issues. Last month, Polymarket users created 13,800 new markets, beating the previous record of 11,800 set in July. The rise in market creation indicates a greater demand for decentralized forecasting tools and real-money betting on real-world outcomes. Polymarket Set to Hit $1 Billion Valuation In June, the leading decentralized prediction market platform nearly raised $200 million in new funding . As reported by TheCoinRise, the investment brought the company’s total value to $1 billion, marking a major milestone in its growth. Notably, the new funding round comes when the prediction market platforms started regaining attention. Last year’s U.S. presidential election between Donald Trump and Kamala Harris brought a lot of excitement to Polymarket . Reportedly, millions of users placed bets on who would win. This new $200 million deal adds to Polymarket’s earlier funding rounds. Recall that last year, the platform also considered raising $50 million and was working on launching its own token , which users could use to settle their bets on the platform. With this deal, it means Polymarket has raised far more than one of its main competitors, Kalshi. Furthermore, Polymarket’s total funding would place it in a much stronger financial position within the prediction market space. Polymarket Strives Abroad After U.S. Regulatory Setback Polymarket enables users to predict events, ranging from politics and sports to economics and global news. The platform runs on blockchain technology, meaning all trades are secure, transparent, and peer-to-peer. However, Polymarket has had some trouble with U.S. regulators . In 2022, the Commodity Futures Trading Commission fined the company $1.4 million, forcing Polymarket to shut down some of its services in the United States. Now, most of its trading volume comes from users outside the country. Meanwhile, Thailand’s cybercrime investigation bureau is also looking to ban Polymarket , citing online gambling concerns. The post Polymarket Hits New High In Market Creation Amid U.S. Return appeared first on TheCoinrise.com .
