Polymarket Could Return to the US as Soon as Today
Polymarket is preparing to reopen its platform to US users after nearly four years, with regulatory filings suggesting the relaunch could begin as early as today.
LISTEN TO THIS ARTICLE:The cryptocurrency-based prediction market had been blocked from serving US customers after enforcement action by the Commodity Futures Trading Commission (CFTC). Now, following its acquisition of CFTC-licensed exchange QCX LLC, at a cost of $112 million, Polymarket regained the ability to operate legally in the US under the name Polymarket US.
Related: X Names Polymarket Its Official Prediction Market PartnerQCX LLC holds a Designated Contract Market (DCM) license, which gives it authority to self-certify new event markets for US participants. By acquiring the firm, Polymarket effectively gained access to the license framework required to operate under federal oversight. This move allows the company to self-certify contracts covering a range of outcomes, including elections and athletic events.
Polymarket has already submitted self-certifications for several event categories, including contracts on athletic competitions, point spreads, total scores, and election winners. Regulatory documents specify that the earliest launch date for these markets is October 2, 2025. Under CFTC rules, once a DCM submits certification paperwork, the agency has one business day to raise objections. If no objection is filed, the contracts can go live immediately after the listed effective date.
The acquisition of QCX LLC also required Polymarket to wait for a no-action letter from the CFTC related to swap data reporting and recordkeeping requirements. That letter, delivered in early September, gave the company clearance to proceed. CEO Shayne Coplan described the letter as the green light Polymarket needed to officially reenter the US market.
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Polymarket Comes Full Circle
Polymarket became widely recognized during the 2024 US presidential election cycle, when traders on the platform forecast that Donald Trump would be elected President of the US for a second term. After that, prediction markets gained popularity, attracting hundreds of millions of dollars in weekly trading volume. The company's main rival, Kalshi, has built a strong US foothold with its own DCM license, and now Polymarket aims to compete directly in the regulated American market.
Self-certification is standard practice for licensed exchanges. It allows operators to launch markets as long as they attest that all legal and regulatory requirements are met. This system provides flexibility for exchanges to respond quickly to consumer interest while still giving the CFTC oversight powers to intervene when necessary.
The timing of Polymarket's return coincides with broader debates about how event contracts and prediction markets should fit into the US financial regulatory framework. Earlier this week, Coplan participated in a joint Securities and Exchange Commission and CFTC panel discussion in Washington, D.C. alongside executives from Cboe Global Markets, Nasdaq, Kalshi, and Kraken.
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