CFTC Clears Polymarket Relaunch in US Prediction Markets

Polymarket, a crypto-based prediction market platform, has received regulatory clearance from the U.S. Commodity Futures Trading Commission (CFTC) to resume operations in the United States after acquiring QCX LLC and QC Clearing LLC for $112 million. The CFTC issued a no-action letter exempting Polymarket from certain swap data reporting and recordkeeping obligations under narrowly defined conditions, allowing the platform to legally offer event contracts without facing enforcement action. This regulatory relief follows the closure of investigations by both the CFTC and the Department of Justice into Polymarket's previous compliance issues, clearing critical hurdles for its U.S. relaunch. Polymarket CEO Shayne Coplan praised the regulatory process for its swift resolution, calling it a breakthrough and signaling the platform's imminent return to American users. The company, which garnered significant attention during the 2024 presidential election by accurately predicting President Trump's victory, now aims to rival other regulated U.S. prediction markets like Kalshi. Additionally, Donald Trump Jr. has invested in Polymarket through his venture capital fund 1789 Capital and joined the advisory board, underscoring strong ties between the platform and President Trump's family.