Polymarket gains iOS access to US exchange after long wait
Prediction market platform Polymarket has officially launched its U.S. exchange on iOS. This marks a major milestone after more than six months of anticipation. In the past, U.S. users could participate only through an invitation-only pilot.
With the rollout, Apple users in the U.S. can now trade event-based markets directly via the app. Android access, however, remains unavailable.
The iOS app delivers a full-featured, mobile-optimised trading experience. It mirrors desktop functionality while adding conveniences like biometric login, push notifications, and swipe-based market discovers. U.S. users now get streamlined access to event contracts directly on their phones, according to media reports.
Regulatory landscape
The Commodity Futures Trading Commission (CFTC) regulates prediction markets by classifying their “event contracts” as financial derivatives, swaps or futures, asserting exclusive federal authority.
Polymarket’s event markets cover a wide range of real-world outcomes from politics and sports to crypto and global affairs, where users trade “yes” or “no” share prices as probabilities. These markets are grouped into events, allowing single or multi-outcome predictions.
Some states have tried to treat these event contracts as gambling. But the CFTC has also resisted labelling them. Yet states like Minnesota have passed laws banning these platforms, requiring Polymarket to geofence restricted jurisdictions.
But this framework continues to evolve as new rulemaking and legal disputes arise. For instance, the CFTC’s Rule 40.11 bans contracts deemed “contrary to the public interest.” This includes markets on assassinations or injuries.
.@CFTC Sues Minnesota to Block State Law: https://t.co/MkF3VDFGO2
— CFTC (@CFTC) May 19, 2026
Path to compliance
Polymarket gained QCEX, a CFTC-licenced exchange, for $112 million in July 2025. This move secured approvals as a Designated Contract Market (DCM) and Derivatives Clearing Organisation (DCO), giving Polymarket a legal foothold in the U.S.
The purchase was pivotal since Polymarket was banned and fined $1.4 million in 2022 for offering unregistered derivatives. By cooperating with investigators, the company reduced its fine. Still, the case became one of the first major enforcement actions against a decentralised prediction market. Subsequently, Polymarket moved its operations offshore while continuing to serve international users.
Polymarket also obtained its futures commission merchant (FCM) status after entering the U.S. market. It is now able to legally offer event contracts despite the long process. Polymarket can now position itself for broader participation.
Market activity
Despite regulatory complications, Polymarket has remained active abroad. Users were still able to access the platform by using VPNs to trade on high-profile events like March Madness and The Masters, where strong trading volumes occurred during its U.S. absence.
Polymarket describes itself as the world’s largest prediction market by volume. Its chief competitor, Kalshi, controls about 90 percent of U.S. market activity. Polymarket is currently seeking funding at a $15 billion valuation, compared to Kalshi’s $22 billion, according to various media outlets.
Industry outlook
Prediction markets are gaining momentum in the U.S., enticing millions of participants alongside traditional sports betting. Analysts forecast steady growth. Now with Polymarket’s re-entry, this is likely to increase mainstream adoption.
Still, challenges remain. Legislators, for one, continue to scrutinise event contracts to determine whether they pose risks to younger users, such as Gen Z. For U.S. users, iOS access offers legal participation under stricter compliance safeguards whereas for or regulators, Polymarket’s case serves as a test of how DeFi-style platforms integrate into traditional oversight, as media reports noted.
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