Key Takeaways
- Polymarket has acquired an exchange to resume operations in the US market.
- The Department of Justice has ended its probe into Polymarket, clearing regulatory uncertainty.
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Polymarket, the major prediction market, may soon resume operations in the US after clearing regulatory hurdles in the world’s largest and most active financial markets.
In facilitating this plan, Polymarket has inked a $112 million deal to acquire QCEX, a CFTC-licensed derivatives exchange and clearinghouse. The move enables the company to offer fully compliant trading of prediction market contracts to US users.
Polymarket founder and CEO Shayne Coplan called the acquisition a path “home,” saying it will let Americans trade their opinions with full regulatory clarity and confidence.
“Demand is greater than ever,” said Coplan in a statement, “not just in user growth and trading volume, but in how mainstream audiences are turning to Polymarket to separate signals from noise, bias, and speculation.”
The acquisition comes just days after the New York-based predictions marketplace received formal notification that the US Justice Department and Commodity Futures Trading Commission had closed their probes into the company.
The investigations, which examined whether Polymarket continued allowing US-based traders on its platform despite a CFTC settlement, had previously pushed the company to operate offshore.
QCEX founder Sergei Dobrovolskii noted that the prediction market was in its infancy when they began pursuing regulatory licenses over four years ago, and that Polymarket has since become a cultural phenomenon.
“Shayne has built a cultural phenomenon at Polymarket,” Dobrovolskii stated. “I am excited to bring our companies together and leverage our licenses, technology, and expertise in the retail trading sector to help Polymarket reach its full potential.”
Alongside regulatory progress, Polymarket scored a major win in business development as Elon Musk’s X has selected it as its official prediction market partner.
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