The United States has the most complex Polymarket situation of any country. The international exchange is blocked, but a separate CFTC-regulated US exchange launched in December 2025 — and it’s now caught in a fierce battle between federal regulators, state gambling commissions, and the courts.
Current Status: Blocked (International) / Invite-Only (US Exchange)
The international Polymarket exchange — the one with deep liquidity, no KYC, and wide market variety — is geoblocked for US IP addresses. This has been the case since Polymarket’s 2022 CFTC settlement.
A separate Polymarket US exchange launched on December 3, 2025 with CFTC approval. It is currently invite-only with a long waitlist.
| Feature | International Exchange | US Exchange |
|---|---|---|
| Access | Blocked for US IPs | Invite-only waitlist |
| KYC | None required | Full KYC (ID, SSN, selfie) |
| Deposits | Crypto (USDC, ETH, etc.) | Via registered FCMs |
| Markets | Crypto, politics, sports, culture, weather, tech, finance, economics | Politics, sports, crypto, weather, culture, finance |
| Liquidity | ~$20B+ cumulative volume | ~$700M cumulative volume |
| Regulation | Unregulated (non-US) | CFTC-regulated DCM |
The Regulatory Timeline
Polymarket’s US journey has been a rollercoaster:
2022: The CFTC Settlement
In January 2022, the CFTC ordered Polymarket (Blockratize, Inc.) to pay a $1.4 million penalty for operating an unregistered facility for event-based binary options. Polymarket was required to wind down non-compliant markets and cease US operations. The CFTC noted Polymarket’s “substantial cooperation” in reducing the penalty.
2024: The FBI Raid
On November 13, 2024, the FBI raided CEO Shayne Coplan’s New York apartment, seizing his phone and electronic devices. The DOJ was investigating whether Polymarket was allowing US users to trade on the international platform in violation of the 2022 settlement.
2025: Full Reversal
- July 2025: DOJ and CFTC formally ended their investigations without bringing charges. Polymarket received declination notices from both agencies.
- July 2025: Polymarket acquired QCEX (a CFTC-licensed derivatives exchange and clearinghouse) for $112 million, providing the regulatory foundation for a legal US return.
- October 2025: Intercontinental Exchange (ICE), the parent company of the NYSE, invested up to $2 billion in Polymarket at an ~$9 billion valuation.
- November 2025: The CFTC granted Polymarket an Amended Order of Designation, allowing it to operate as a fully regulated US platform.
- December 2025: The Polymarket US app launched — invite-only.
2026: The State-Level Battlefield
While Polymarket won at the federal level, state gambling regulators are fighting back:
- Nevada: Filed a civil complaint in January 2026. A judge granted a temporary restraining order banning Polymarket from offering contracts to Nevada residents.
- Tennessee: Issued cease-and-desist orders in January 2026. A federal judge temporarily blocked Tennessee’s enforcement against Kalshi while considering federal preemption.
- Massachusetts: A judge ordered Kalshi to block state residents in February 2026. Polymarket then sued Massachusetts, arguing the CFTC has exclusive jurisdiction.
- Connecticut: Issued cease-and-desist orders to Kalshi, Polymarket, and Crypto.com on the day of Polymarket’s US launch.
- Arizona: Filed 20 criminal counts against Kalshi for illegal gambling.
Officials in at least 11 states have sent cease-and-desist orders, with active litigation in 8+ states. Courts have reached conflicting conclusions on whether federal CFTC approval preempts state gambling laws — this will likely need to be resolved by higher courts.
March 2026: The Latest
- MLB named Polymarket as its exclusive prediction market exchange partner in a multi-year deal with access to official data feeds.
- The CFTC issued an Advanced Notice of Proposed Rulemaking soliciting public input on new prediction market rules.
- A bipartisan Senate bill — the “Prediction Markets Are Gambling Act” — was introduced to ban sports event contracts on CFTC-regulated platforms.
How the US Exchange Works
The Polymarket US exchange is fundamentally different from the international platform:
To sign up, you need:
- Government-issued photo ID
- Social Security Number (SSN)
- Proof of residency
- A live selfie for identity verification
To deposit funds:
- Accounts must be funded through approved futures commission merchants (FCMs), not direct crypto wallet connections
- Settlement is in USDC (stablecoins)
Current limitations:
- Invite-only — hundreds of thousands of users remain on the waitlist as of March 2026
- Wait times: December 2025 signups waited 1-2 weeks; February 2026 signups are looking at 6-12 weeks
- No public timeline for full open access has been announced. Industry estimates point to Q3 or Q4 2026.
- Liquidity is significantly lower than the international exchange
What About the International Exchange?
The international Polymarket exchange — the one this site primarily covers — is geoblocked for US IP addresses. Polymarket uses a dedicated geoblock API that checks IPs against restricted countries before allowing any order submission.
The restriction is based solely on IP address — there is no KYC or identity verification on the international platform. Some users in restricted regions access international platforms by routing their internet connection through a different geographic location. This is a common practice for accessing global financial and information services.
Polymarket vs Kalshi: The US Prediction Market Battle
Kalshi is Polymarket’s main US competitor. Here’s how they compare:
| Factor | Polymarket US | Kalshi |
|---|---|---|
| Availability | Invite-only waitlist | Fully public |
| Valuation | ~$9B (Oct 2025) | $22B (Mar 2026) |
| CFTC status | Approved Nov 2025 | Approved since 2020 |
| Settlement | USDC (stablecoin) | USD (traditional) |
| KYC | Full KYC | Full KYC |
| State battles | 11+ states | 11+ states (same) |
| International platform | Yes (separate) | No |
Both platforms face the same state-level legal challenges and are both subject to the proposed Senate bill to ban sports event contracts.
The Bottom Line for US Residents
- The international exchange is geoblocked. Access is restricted by IP address for US users.
- The US exchange exists but you’ll wait. Join the waitlist and expect weeks to months before access.
- State laws are a mess. Even with federal approval, your state may be trying to block prediction markets. Check whether your state has taken action.
- Kalshi is available now if you want to start trading prediction markets in the US while waiting for Polymarket.
- This is all evolving rapidly. The regulatory landscape is shifting month to month. We’ll keep this page updated.
Related Guides
- All Country Guides — Check availability for every country
- Country Availability Checker — Instant status lookup for 190+ countries
- What Is Polymarket? — Full introduction to the platform
- How Prediction Markets Work — Understand the mechanics
- Polymarket vs Kalshi — Detailed comparison
- How to Sign Up for Polymarket — For the international exchange
- How to Deposit on Polymarket — Fund your account
- Polymarket Fees Explained — Fee structure breakdown (or use the fee calculator)