Polymarket is seeking approval from the Commodity Futures Trading Commission to reopen its main prediction market to US traders after a 2022 settlement forced it offshore.
The move would allow Polymarket to compete more directly with Kalshi and bring more event-based trading under US regulatory oversight.
The proposal requires a formal vote by the CFTC, a process that may be simplified as the commission currently has only one sitting member, Chairman Michael Selig.
Polymarket has already secured approval for a separate US-based platform following its acquisition of a registered exchange, although that service has yet to fully launch.
The renewed push comes amid increased scrutiny of prediction markets, which some states argue resemble unlicensed gambling operations rather than regulated financial products.
The discussions also follow a recent insider trading case involving a user who allegedly bypassed US restrictions using a VPN to place trades based on classified information.
If approved, the decision could mark a significant shift in how prediction markets operate in the US, potentially expanding access while tightening regulatory oversight.