Polymarket has received approval from the CFTC to resume operations in the U.S., according to CEO Shayne Coplan. This follows the CFTC's announcement that it would not pursue enforcement actions against QCX, a regulated derivatives exchange acquired by Polymarket. In 2022, Polymarket was banned from the U.S. for allegedly failing to register as a designated contract market. The recent no-action letter allows Polymarket to operate under QCX's license, exempting it from specific reporting requirements. Since being pushed offshore, Polymarket has gained popularity, particularly with bets on U.S. political events. The company's acquisition of QCX was a key strategy for its return. Despite the approval, it's unclear how broadly the CFTC's letter will impact Polymarket's overall operations, as it separately addresses QCX's compliance. The regulatory landscape continues to evolve for crypto and prediction markets as companies seek compliance and opportunities within U.S. jurisdictions.

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