Polymarket Eyes November for US Relaunch

Today in crypto, Polymarket is preparing to relaunch trading services in the United States within weeks. Circle has debuted the Arc blockchain testnet with support from more than 100 institutions, including BlackRock, Goldman Sachs, Visa and Mastercard, and a US lawmaker wants to bar Trump, his family and elected officials from trading crypto and stocks.

Polymarket eyes November for US relaunch: Report

Prediction platform Polymarket is reportedly eyeing launching trading services in the United States in a matter of weeks.

According to a Tuesday Bloomberg report citing people familiar with the matter, Polymarket plans to initially launch limited trades available to US residents before the end of November, with an emphasis on sports betting. 

The relaunch report came about two months after the US Commodity Futures Trading Commission (CFTC) said it had issued a no-action letter to a crypto derivatives exchange and clearinghouse acquired by Polymarket. This move set the stage for the company to “go live in the USA,” according to CEO Shayne Coplan.

Reports from September suggested that, should Polymarket reopen to US markets, the company could have a valuation as high as $10 billion. As of June, the predictions platform was valued at about $1 billion following a $200-million funding round.

As of Tuesday, Polymarket’s website showed a waitlist, saying that it would “soon be available for US traders.” Cointelegraph reached out to the company for comment, but had not received a response at the time of publication.

Circle debuts Arc testnet with participation by BlackRock, Goldman Sachs, Visa

Circle, the world’s second-largest stablecoin issuer, launched the public testnet for Arc, its open layer-1 blockchain network built to bring global financial infrastructure onchain.

The rollout, which Circle calls the “Economic Operating System for the internet,” includes participation from over 100 major companies spanning banking, capital markets and fintech — among them BlackRock, Goldman Sachs, Visa, Mastercard and State Street, according to a Tuesday announcement.

“With Arc’s public testnet, we’re seeing remarkable early momentum as leading companies, protocols, and projects begin to build and test,” Circle CEO Jeremy Allaire said. “Combined, these companies reach billions of users, move, exchange, and custody hundreds of trillions in assets and payments,” he added.

Arc is designed to provide predictable US dollar-based fees, sub-second finality and optional privacy controls, directly integrating with Circle’s USDC (USDC) stablecoin and payments stack. It aims to support a broad range of financial applications, from lending and capital markets to global payments and foreign exchange (FX).

The testnet launch has drawn engagement from major institutions such as Apollo, BNY Mellon, Intercontinental Exchange and Deutsche Bank, as well as global payment firms Mastercard, FIS, Paysafe and Nuvei.

US lawmaker seeks to stop Trump, family from crypto, stock trading

A US lawmaker is seeking to ban US President Donald Trump, his family, and members of Congress from trading crypto or stocks.

US Representative Ro Khanna, a Democrat representative used an appearance on MSNBC to raise concerns around Trump’s apparent conflict of interest with crypto via his son’s crypto project World Liberty Financial (WLFI), alleging the recent pardoning of Binance co-founder Changpeng “CZ” Zhao was “blatant corruption.”

Khanna did not go into specific details of his legislative proposal, but did not mince his words, concluding by calling for a ban on “any elected official from having cryptocurrency and accepting foreign money.”