Polymarket Reenters US Market After $112M Exchange Acquisition

Polymarket, a crypto-based prediction market platform, is preparing to reenter the U.S. market following its $112 million acquisition of QCX, a Florida-based derivatives exchange and clearinghouse licensed by the Commodity Futures Trading Commission (CFTC). This acquisition grants Polymarket a regulated foothold in the U.S., enabling it to operate within a fully compliant framework after being blocked from U.S. users in 2022 due to regulatory issues. The move follows the recent closure of federal investigations by the U.S. Department of Justice and the CFTC into Polymarket’s prior activities, clearing the way for a legal relaunch. Polymarket CEO Shayne Coplan expressed enthusiasm about bringing the platform back to American traders, highlighting the company's global popularity and recent partnerships, including one with Elon Musk’s social media platform X. Despite ongoing debates about the regulation of prediction markets, current CFTC leadership appears supportive of overseeing these platforms, with industry players like Polymarket and rival Kalshi navigating the evolving legal landscape. Polymarket’s return signals a significant shift in federal regulatory attitudes toward crypto and event-based wagering under the Trump administration.