According to The Information, Polymarket’s attempt to re-enter the U.S. market after a four-year absence is facing significant headwinds. The platform acquired a derivatives and futures exchange with existing U.S. regulatory approval and appointed Justin Hertzberg to lead U.S. operations. However, progress has lagged expectations, with the platform trailing competitor Kalshi in market share. Internally, Hertzberg’s role is reportedly limited mainly to signing regulatory documents, with limited operational and expansion capacity for the U.S. business.
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