Prediction market operator Polymarket has received regulatory clearance to enter the US market. On Wednesday, the Commodity Futures Trading Commission (CFTC) confirmed it will take a no-action position on event contracts filed by QCX LLC — a derivatives platform Polymarket is acquiring.
Polymarket founder and CEO Shane Coplan announced the decision on X, saying the company has “been given the green light to go live in the USA by the CFTC.”
According to the regulator, its Division of Market Oversight and Division of Clearing and Risk agreed not to pursue enforcement regarding swap data reporting and recordkeeping rules for QCX LLC.
Acquisition Paves the Way
Polymarket announced in July a $112 million takeover of QCX’s parent, QCEX LLC, a derivatives exchange and clearinghouse licensed by the CFTC. The move provides Polymarket with a compliant entry point into the US prediction market space.
Trump Jr.’s Influence
The approval comes shortly after Donald Trump Jr.’s 1789 Capital invested millions into Polymarket, with Trump Jr. also joining its advisory board. He serves in the same role at rival Kalshi, underscoring his growing profile in the crypto-based prediction market sector.
It’s unclear whether Trump Jr. influenced the CFTC’s stance, but his presence adds political weight. He has long championed prediction markets, even noting that during Election Night 2024, he and his family tracked outcomes on Kalshi over mainstream media outlets.
CFTC leadership remains in transition, with Interim Director Caroline Pham currently overseeing operations as President Trump’s nominee, Brian Quintenz, awaits Senate confirmation. Some crypto community members reportedly want the White House to revisit that appointment.
Sports Prediction Markets Heating Up
The timing of Polymarket’s approval is significant, as prediction markets are expected to see major traction during football season. Kalshi is already pushing parlays — if regulators allow them — while Polymarket is surveying customers on preferred offerings, including player props.
Competition is intensifying. Just this week, Crypto.com expanded its reach through a deal with Underdog Fantasy, giving users in 16 states access to event contracts. Meanwhile, Robinhood Derivatives announced it will roll out yes/no markets on college football and NFL games this fall.
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