Crypto prediction platform Polymarket is back in the U.S.—this time, legally.
The New York-based company has acquired QCX, a little-known derivatives exchange recently approved by the CFTC, in a $112 million deal that unlocks long-awaited regulatory access.
Once targeted by U.S. regulators for running an unregistered betting market, Polymarket was fined $1.4 million in 2022 and forced to block American users. But after years of legal scrutiny—including an FBI raid and dual civil and criminal investigations—both the DOJ and CFTC have officially dropped the case without charges.
The QCX acquisition gives Polymarket the legal infrastructure it lacked, just as political winds shift under President Trump’s administration. The CFTC’s recent retreat from past enforcement signals a friendlier climate for prediction markets, including rivals like KalshiEx.
Polymarket, which handled over $3.6 billion in wagers last year—despite being banned in the U.S.—can now operate without geo-blocking. With the 2024 election driving massive traffic and visibility, the company’s bet on outlasting regulators appears to have paid off.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/polymarket-re-enters-u-s-through-112m-regulatory-backdoor-deal/