Polymarket has not fully reopened in the United States, yet the prediction platform climbed to No. 1 among free sports apps on Apple’s App Store on Monday as its return draws closer.
The spike in downloads followed a 60 Minutes profile of founder Shayne Coplan on Sunday, as he reintroduces the exchange to a market moving faster than the rules governing it. Polymarket has been busy in recent weeks, including securing a $2 billion investment from NYSE parent Intercontinental Exchange that values the company at $8 billion.
Awaiting Polymarket is a space now dominated by sports trading, where rival Kalshi has largely reigned supreme. However, competition from FanDuel and DraftKings looms as each prepares to launch their own prediction markets in the coming months.
Polymarket still beta testing
Polymarket has been testing a limited US version of its app with sports-only prediction markets for several weeks. It has pushed three App Store updates within the last week, according to the Event Horizon newsletter.
Polymarket has largely operated offshore since blocking U.S. users as part of a settlement with the Commodity Futures Trading Commission in 2022, though many Americans have continued to access it through VPNs. The path shifted this summer when Polymarket acquired QCX, a licensed exchange and clearinghouse.
Coplan also named Donald Trump Jr. as a strategic advisor.
“This [administration] is very pro-innovation, and pro-crypto, and pro-Polymarket, which is amazing,” Coplan told 60 Minutes, adding, “I need help navigating that, right? I’m a young entrepreneur.”
Regulatory uncertainty persists
Polymarket’s return comes as several states urge the CFTC to rein in prediction platforms that offer markets on game outcomes. They argue those products are indistinguishable from sports betting and fall under state jurisdiction. Meanwhile, prediction markets contend they are financial trading instruments subject only to CFTC oversight.
Coplan reiterated those differences on Sunday, painting his platform as one where users “own a share” rather than bet against a house. He made a similar argument in November when he blasted regulated sportsbooks for their “scam-like” pricing and tactics.
President Trump’s nominee to lead the CFTC indicated to Congress last week he will likely rely on the Supreme Court to decide whether sports contracts are gambling.
Meanwhile sports markets have generated $11 billion in volume on Kalshi since September, about 95% of the exchange’s total volume over that span.
