02:32 PM EDT, 10/28/2025 (MT Newswires) -- Polymarket is preparing to return to the US in the coming weeks with a focus on sports betting, Bloomberg reported Tuesday, citing people familiar with the matter.

Initial trading on the prediction market platform is likely to begin by the end of November but won't be broadly available at launch, the people said, adding that the timing could allow Polymarket to capture more activity during the peak US football and basketball season.

Polymarket paid a $1.4 million penalty in 2022 to settle Commodity Futures Trading Commission allegations of illegal trading that forced it offshore, according to the news outlet.

Polymarket did not immediately respond to MT Newswires' request for comment.

Shares of Flutter Entertainment ( FLUT ) and DraftKings ( DKNG ) were down nearly 3% and 6% in recent Tuesday trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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