Yes it is - you can run them as child portals - eg.. http://www.yourdomain.com/child1 etc, or as subdomains and full domains using the parent portal option - which requires you to put in the full url. 

You can test / try these options under the host/portals section.

However, you need to confirm with your hoster that they will allow multiple domains in your account since in most instances, the hosting company needs to add the site to IIS or you need a control panel that allows this function.

Nina Meiers