TechFlow News: On May 6, according to The Information, Polymarket—four years after exiting the U.S. market—is attempting to re-enter the domestic market by acquiring a U.S.-licensed derivatives and futures exchange, thereby rejoining the regulated framework, and has appointed Justin Hertzberg to lead its U.S. operations. However, recent developments indicate that Polymarket’s U.S. business progress has fallen short of expectations, with its market share notably trailing behind major competitor Kalshi.
Reportedly, within the company, Justin Hertzberg assumes more of a “titular CEO” role, primarily responsible for signing regulatory documents, while possessing limited capacity for actual operational management and expansion of U.S. business. Overall, Polymarket’s re-entry into the U.S. market continues to face dual challenges—both regulatory and execution-related.
