In the latest crypto news, Polymarket is set to relaunch its trading services in the United States within a few weeks. Circle has introduced the Arc blockchain testnet, backed by over 100 institutions, including BlackRock, Goldman Sachs, Visa, and Mastercard. Meanwhile, a US lawmaker is advocating for a ban on Trump, his family, and elected officials from trading cryptocurrencies and stocks.
Polymarket aims for November US relaunch: Report
Prediction platform Polymarket is reportedly planning to relaunch trading services in the United States soon.
According to a Tuesday Bloomberg report citing sources close to the situation, Polymarket intends to begin with limited trades available to US residents before the end of November, focusing primarily on sports betting.
This relaunch comes roughly 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. CEO Shayne Coplan stated that this step set the groundwork for the company to “go live in the USA.”
Earlier reports suggested that if Polymarket reopens to US markets, its valuation could soar to $10 billion. As of June, the predictions platform was valued at around $1 billion following a $200-million funding round.
On Tuesday, Polymarket’s website indicated a waitlist, stating that it would “soon be available for US traders.” Cointelegraph reached out for comments from the company but had not received a response by the time of publication.
Circle launches Arc testnet with involvement from BlackRock, Goldman Sachs, Visa
Circle, the second-largest stablecoin issuer globally, has launched the public testnet for Arc, its open layer-1 blockchain network created to bring global financial infrastructure onchain.
This rollout, referred to by Circle as the “Economic Operating System for the internet,” has seen participation from over 100 major entities across banking, capital markets, and fintech—including BlackRock, Goldman Sachs, Visa, Mastercard, and State Street, according to a Tuesday announcement.
Circle CEO Jeremy Allaire commented, “With Arc’s public testnet, we’re seeing remarkable early momentum as leading companies, protocols, and projects begin to build and test.” He added that these companies reach billions of users and handle hundreds of trillions in assets and payments.
Arc is designed to offer predictable US dollar-based fees, sub-second finality, and optional privacy controls, directly integrating with Circle’s USDC (USDC) stablecoin and payment system. It aims to support a diverse array of financial applications, from lending and capital markets to global payments and foreign exchange (FX).
The testnet launch has attracted involvement from significant institutions like Apollo, BNY Mellon, Intercontinental Exchange, and Deutsche Bank, as well as global payment firms Mastercard, FIS, Paysafe, and Nuvei.
US lawmaker aims to prevent Trump and family from crypto, stock trading
A US lawmaker is moving to prohibit US President Donald Trump, his family, and members of Congress from trading cryptocurrencies or stocks.
US Representative Ro Khanna, a Democrat, expressed concerns on MSNBC about Trump’s potential conflict of interest with crypto, particularly due to his son’s crypto venture World Liberty Financial (WLFI). He claimed that the recent pardoning of Binance co-founder Changpeng “CZ” Zhao represented “blatant corruption.”
Khanna did not provide specific details regarding his legislative proposal but emphasized the need for a ban on “any elected official from having cryptocurrency and accepting foreign money.”
