Not unless we outlaw divorce, criminalize adultery, make female consent to marriage unrequired and drastically enlarge the percentage of rich.
This is all speculation because polygamy only works when women are treated like property anyway. What percent of women would accept her man getting a new wife?
Which is why your scenario doesn't work out. There has never been "large scale" polygamy, because there has never been a "large scale" group of wealthy that would soak up the available pool of spouses. If the US legalized polygamy, you likely wouldn't see any more polygamous marriages than already occur illegally. Unless the 2nd spouse sees some benefit, I don't think there will be much desire to get into the relationship, and if the first spouse sees no benefit, she is unlikely to consent.
As it is now in the US, with "no fault" divorce, one spouse can unilaterally practice polygamy by simply dumping his/her current spouse and marrying another, who sees a clear benefit by cutting out the first. Or, a guy can practice polygamy by simply impregnating his multiple "hos" concurrently and not even bother to marry them. That way, Uncle Sam will pick up the household grocery bill and he won't be facing bigamy charges along with the paternity suits.
However, if you want to know a more likely place for your scenario, look to Red China, where they have been aborting their female population into imbalance. There the pool of females won't be just sequestered, it will be scarce to nonexistent.
LOL! Such a picturesque cultural reference!
...and not even bother to marry them. That way, Uncle Sam will pick up the household grocery bill and he won't be facing bigamy charges along with the paternity suits.
Yep, ain't that the truth?