Compliance-First Approach Drives Polymarket's U.S. Relaunch and Token Plans

Polymarket, the prediction market platform, has confirmed plans to launch a native token and distribute a portion of it via an airdrop following its formal relaunch in the United States, according to Chief Marketing Officer Matthew Modabber. The company's U.S. return, facilitated by its $112 million acquisition of CFTC-regulated derivatives exchange QCX, is expected to proceed as early as October 2, 2025, per a Coindesk report.

Modabber emphasized during an interview on the Degenz Live podcast that the token and airdrop are not imminent priorities. "Right now our core priority is launching in the U.S. and making a big splash there," he said, adding that the token will follow once the platform's U.S. operations are fully established, Blockworks reported. The CMO cited Hyperliquid's token strategy as a model, praising its focus on "true utility and longevity" rather than short-term hype, Benzinga noted.

The U.S. relaunch marks a pivotal comeback for Polymarket, which was effectively barred from operating in the country in 2022 after a CFTC settlement. The acquisition of QCX, which received a CFTC no-action letter in September, has cleared the regulatory path for Polymarket to offer prediction markets to American users under a compliant framework, Decrypt reported. The platform's U.S. app is currently in a testing phase, with access limited to invited users, Coinpedia reported.

Beyond the token, Polymarket's valuation has surged this year, reaching $9 billion following a $2 billion investment from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, CryptoNews reported. The deal, which made founder Shayne Coplan the youngest self-made billionaire in crypto, underscores growing institutional interest in prediction markets as tools for gauging sentiment on elections, Federal Reserve decisions, and global events, according to Bitget coverage.

Speculation about the token's mechanics remains rampant. While Modabber declined to detail its functionality, users anticipate an airdrop weighted toward high-volume traders—a model akin to decentralized exchanges, according to the Coindesk report. Coplan hinted at the token's potential in a cryptic X post listing "POLY" alongside major cryptocurrencies, fueling further speculation, as CryptoNews reported.

The platform's U.S. relaunch coincides with a broader boom in prediction market activity, with Polymarket and rival Kalshi reporting $2 billion in combined trading volume during the week ending October 19, as Benzinga previously reported. As the company finalizes its token roadmap, the focus remains on ensuring regulatory compliance and long-term sustainability, Modabber said.

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