In the world of crypto today, Polymarket is set to relaunch its trading services in the United States within weeks. Circle has introduced the Arc blockchain testnet with backing from over 100 institutions including BlackRock, Goldman Sachs, Visa, and Mastercard. Additionally, a US lawmaker is pushing for a ban on Trump, his family, and elected officials from trading in crypto and stocks.
Polymarket aims for November US relaunch: Report
The prediction platform Polymarket is reportedly looking to launch trading services in the US in a matter of weeks.
According to a Bloomberg report on Tuesday, citing sources familiar with the situation, Polymarket plans to initially provide limited trades for US residents before the end of November, focusing on sports betting.
This relaunch news comes about two months after the US Commodity Futures Trading Commission (CFTC) issued a no-action letter to a crypto derivatives exchange and clearinghouse acquired by Polymarket. This decision paved the way for the company to “go live in the USA,” as stated by CEO Shayne Coplan.
September reports indicated that if Polymarket reopens to US markets, it could be valued as high as $10 billion. As of June, the prediction platform was valued at around $1 billion following a $200 million funding round.
As of Tuesday, Polymarket’s website displayed a waitlist, indicating that it would “soon be available for US traders.” Cointelegraph has reached out to the company for comment but had not received a response at the time of publication.
Circle launches Arc testnet with participation from BlackRock, Goldman Sachs, Visa
Circle, the world’s second-largest stablecoin issuer, has launched the public testnet for Arc, its open layer-1 blockchain network aimed at bringing global financial infrastructure on-chain.
This rollout, which Circle refers to as the “Economic Operating System for the internet,” involves participation from over 100 major companies in banking, capital markets, and fintech — including BlackRock, Goldman Sachs, Visa, Mastercard, and State Street, as noted in a Tuesday announcement.
“With Arc’s public testnet, we’re witnessing significant early momentum as leading companies, protocols, and projects begin to build and test,” Circle CEO Jeremy Allaire remarked. “Collectively, these companies reach billions of users and manage, exchange, and safeguard hundreds of trillions in assets and payments,” he added.
Arc is designed to offer predictable US dollar-based fees, sub-second finality, and optional privacy controls, seamlessly integrating with Circle’s USDC (USDC) stablecoin and payments infrastructure. It aims to support a wide variety of financial applications, from lending and capital markets to global payments and foreign exchange (FX).
The testnet launch has attracted interest from major institutions such as Apollo, BNY Mellon, Intercontinental Exchange, and Deutsche Bank, along with global payment firms Mastercard, FIS, Paysafe, and Nuvei.
US lawmaker proposes to prevent Trump and family from trading crypto and stocks
A US lawmaker is calling for a ban preventing US President Donald Trump, his family, and members of Congress from trading cryptocurrencies or stocks.
US Representative Ro Khanna, a Democrat, raised concerns on MSNBC regarding Trump’s potential conflict of interest related to crypto through his son’s project World Liberty Financial (WLFI), claiming the recent pardon of Binance co-founder Changpeng “CZ” Zhao was “blatant corruption.”
Khanna did not delve into specifics regarding his legislative proposal but concluded by advocating for a ban on “any elected official from holding cryptocurrency and accepting foreign funds.”
