In today’s crypto update, Polymarket is set to restart trading services in the United States in the coming weeks. Circle has launched the Arc blockchain testnet with backing from over 100 institutions, including BlackRock, Goldman Sachs, Visa, and Mastercard, while a US lawmaker proposes a ban preventing Trump, his family, and elected officials from trading crypto and stocks.
Polymarket aims for November relaunch in the US: Report
Prediction platform Polymarket is reportedly aiming to launch trading services in the US within weeks.
A Tuesday Bloomberg report, citing insider sources, reveals that Polymarket plans to initially offer limited trades for US residents before the end of November, focusing on sports betting.
This news follows a recent statement from the US Commodity Futures Trading Commission (CFTC) announcing a no-action letter to a crypto derivatives exchange and clearinghouse acquired by Polymarket, paving the way for the company’s “go live” in the USA, according to CEO Shayne Coplan.
Earlier reports from September indicated that if Polymarket reopens to US markets, the company could achieve a valuation as high as $10 billion. As of June, it was valued at approximately $1 billion following a $200 million funding round.
Currently, Polymarket’s website lists a waitlist, stating it will “soon be available for US traders.” Cointelegraph contacted the company for further comment but did not receive a response by the time of publication.
Circle launches Arc testnet with support from BlackRock, Goldman Sachs, Visa
Circle, the world’s second-largest stablecoin issuer, has unveiled the public testnet for Arc, its layer-1 blockchain network aimed at integrating global financial infrastructure on-chain.
This rollout, described by Circle as the “Economic Operating System for the internet,” includes over 100 major companies from banking, capital markets, and fintech, such as BlackRock, Goldman Sachs, Visa, Mastercard, and State Street, according to a Tuesday announcement.
“With Arc’s public testnet, we’re witnessing significant early momentum as prominent companies, protocols, and projects begin to develop and test,” said Circle CEO Jeremy Allaire. “Together, these entities engage billions of users and manage hundreds of trillions in assets and payments,” he added.
Arc aims to offer predictable US dollar-based fees, sub-second finality, and optional privacy controls, seamlessly integrating with Circle’s USDC (USDC) stablecoin and payment infrastructure. It is designed to accommodate a wide array of financial applications, including lending, capital markets, and global payments.
The testnet launch has attracted interest from key institutions like Apollo, BNY Mellon, Intercontinental Exchange, and Deutsche Bank, among others, as well as major payment companies including Mastercard, FIS, Paysafe, and Nuvei.
US legislator moves to stop Trump and family from crypto and stock trading
A US lawmaker is advocating for a ban preventing President Donald Trump, his family, and members of Congress from trading crypto or stocks.
US Representative Ro Khanna, a Democrat, voiced concerns on MSNBC regarding Trump’s alleged conflict of interest in crypto due to his son’s project, World Liberty Financial (WLFI), claiming the recent pardon of Binance co-founder Changpeng “CZ” Zhao represented “blatant corruption.”
Khanna did not provide specific details regarding his legislative proposal, but expressed a clear stance, calling for a prohibition on “any elected official holding cryptocurrency and accepting foreign money.”
