A new regulatory guidance has opened doors for Polymarket to re-enter the United States following a three-year ban.
Summary
- Polymarket has received a CFTC no-action letter covering QCX LLC and QC Clearing LLC, clearing the way for its U.S. return.
- The platform acquired the firms in July for $112 million, gaining a licensed exchange and clearinghouse to operate legally in the U.S.
- Polymarket has not set an official relaunch date, but regulatory approval and strategic moves signal its readiness to re-enter the market.
Predictions platform Polymarket is officially set for a return to the United States after receiving regulatory clearance from regulatory authorities. On September 3, the CFTC’s Division of Market Oversight and Division of Clearing and Risk issued a no-action letter covering QCX LLC, a designated contract market, and QC Clearing LLC, a derivatives clearing organization.
Polymarket acquired QCEX in July in a $112 million deal, gaining control of both QCX and QC Clearing. The acquisition provided the platform with the licensed infrastructure it needed to operate legally in the U.S., setting the stage for its comeback.
The CFTC’s no-action letter now confirms that the regulator will not pursue enforcement against QCX, QC Clearing, or their participants for certain swap data reporting and recordkeeping requirements tied to event contracts.
While the relief specifically covers binary options and variable payout contracts executed on QCX and cleared through QC Clearing, it provides the clear legal pathway Polymarket requires to reopen in the U.S. market. The Commission also noted that this treatment aligns with no-action relief previously granted to other U.S.-regulated exchanges and clearinghouses, underscoring the legitimacy of the comeback plan.
Shortly after the announcement, Polymarket founder and CEO Shayne Coplan confirmed that the platform had received CFTC approval to resume U.S. operations. He also praised the Commission and its staff for completing the process quickly, noting that the approval came in record time.
“Polymarket has been given the green light to go live in the USA by the CFTC. Credit to the Commission and Staff for their impressive work. This process has been accomplished in record timing,” he wrote.
Coplan’s confirmation follows months of whispers about Polymarket plotting a United States comeback.
Polymarket’s long path to re-enter the U.S.
Polymarket exited the U.S. in 2022 after a $1.4 million CFTC settlement over unregistered event contracts, which barred the platform from serving American users.
Later in 2024, the Department of Justice launched a separate investigation into the platform over suspected misconduct related to 2024 presidential election predictions, including an FBI raid on CEO Shayne Coplan’s home to determine whether the platform knowingly allowed illegal trading despite the ban.
However, in July, both the CFTC and Department of Justice closed their investigations, clearing the company of wrongdoing. That resolution, paired with its $112 million acquisition of QCEX, had already signaled the company was preparing a compliant route back into the U.S.
The predictions platform also recently added Donald Trump Jr. to its advisory board, receiving an investment from a company where he is partner. Upon joining, Trump Jr. emphasized that the platform was due for a U.S. re-entry and committed to supporting its return.
“Polymarket is the largest prediction market in the world, and the U.S. needs access to this important platform,” said Trump Jr. at the time.
What comes next for Polymarket?
For now, Polymarket has not set an official date for relaunching U.S. services. Still, the CFTC’s no-action letter represents the most concrete step yet in its return.
With its regulatory challenges now largely resolved, the platform appears positioned to resume operations in its biggest potential market, where demand for event-based prediction trading remains high.
CEO Coplan added that users should “stay tuned,” suggesting that efforts are already underway. Meanwhile, Polymarket has faced regulatory challenges outside the United States. In November 2024, the platform blocked French users after regulators investigated whether its operations violated national gambling laws. More recently, in January 2025, Singapore banned the platform, classifying it as an “illegal gambling website.”
Source: https://crypto.news/polymarket-secures-u-s-return-with-cftc-greenlight/
