Polymarket Cleared to Operate U.S. Markets After CFTC No-Action Ruling

Polymarket, a blockchain-based prediction market platform, has received regulatory clearance to resume operations in the United States after a more than three-year ban. The Commodity Futures Trading Commission (CFTC) issued a no-action letter covering QCX LLC and QC Clearing LLC, subsidiaries acquired by Polymarket in a $112 million deal, allowing the platform to operate legally under U.S. derivatives regulations. Polymarket's CEO, Shayne Coplan, praised the swift regulatory approval, calling it a milestone that enables the company to launch U.S. markets again. Donald Trump Jr., son of President Donald Trump, joined Polymarket's advisory board following his investment via 1789 Capital, adding political prominence to the platform as it prepares to scale up ahead of the 2025 election cycle. The return of Polymarket to the U.S. market is expected to intensify competition in the prediction market space, especially against rivals like Kalshi, where Trump Jr. also serves as an adviser. Despite regulatory approval, Polymarket still faces technical and compliance challenges before fully reopening to U.S. users.