The founder of Polymarket has announced plans to bring the company back to the United States.

• Polymarket intends to reintroduce its prediction markets to US customers.

Polymarket intends to reintroduce its prediction markets to US customers.

"Shayne Coplan, founder and CEO of Polymarket, praised the individuals who fought for the legalization of political prediction markets in America during his first live TV interview with Andrew Ross Sorkin on "Squawk Box." Now, with the legalization in place, Polymarket is ready to expand aggressively."

Polymarket's betting platforms are accessible only to customers outside the United States. In 2022, the company stopped its U.S. operations and paid a $1.4 million penalty to settle charges with the CFTC for not registering with the commission.

The U.S. Appeals Court for the District of Columbia Circuit lifted a freeze on competitor Kalshi's election contracts in October. In her ruling, Judge Patricia Millett stated that "a showing of irreparable harm is a necessary prerequisite for a stay."

After receiving approval, Interactive Brokers and Robinhood introduced their own products.

Thomas Peterffy, founder and chairman of Interactive Brokers, believes that the market he sees in the future will be larger than the equities market in about 15 years, according to a statement he made on CNBC's "Closing Bell" Wednesday.

"The questions are relevant globally, regardless of where people live."

In an interview with Sorkin at the "Hood Summit," more than a week before the official launch of the company's election contracts, Robinhood CEO Vlad Tenev stated that the great aspect of these markets is that people have money on the line.

"Their focus on the outcome and the resulting reliability makes them more trustworthy than simple polling."

The betting platforms that saw millions of dollars wagered on President Elect Donald Trump's victory may also benefit from a change in leadership in Washington.

Elon Musk, who campaigned for Trump, has praised Polymarket on X as "more accurate than polls, as real money is at stake." At 8:24 p.m. ET on Election Day, Musk declared "the prophecy has been fulfilled!"

The accuracy of the 2024 presidential election outcome was predicted by election contracts on prediction market sites.

The prediction markets for the presidential race, including Polymarket, Kalshi, ForecastEx, and Robinhood, saw a surge in support for Trump as the polls closed Tuesday evening.

Nearly $3.7 billion in trading volume was recorded on Polymarket for the presidential race, as per the platform's tracker.

Polymarket appeared to be a sure bet on the platform, and if you were only watching TV, it seemed like a close race, according to Coplan, who founded Polymarket at the age of 21.

"He stated that the Overton window has undergone a significant shift, marking a turning point in news and politics."