Polymarket plots US return after snapping up CFTC-licensed firm for $112m

Polymarket is set to return to the US after putting pen to paper on a $112m (£83m) deal to acquire Commodity Futures Trading Commission (CFTC)-licensed exchange QXC.

The deal, which will see Polymarket snap up both the QXC derivatives exchange and QC Clearing clearing house, means the prediction market is in line for a return to US operations.

The acquisition comes after the US government ended its investigation into Polymarket, in what was an operation led by the Department of Justice and the CFTC.

Polymarket CEO Shayne Coplan had his home raided by the FBI as part of the operation, with the boss’ phones and other electronic devices seized.

With the investigation having come to a close under the Trump administration, after being started by the Biden administration post-election, Polymarket will now be able to engage US-based users.

The prediction market struck a settlement with the CFTC in January 2022 which saw it leave the US, including paying a $1.4m penalty.

While Polymarket has officially not been available to US players, it is thought those within the US using a VPN could circumvent the issue.

In H1 2025, Polymarket has reported around $6bn in trades and became an official partner of Elon Musk-owned X.

QXEC, the combined entity representing the two arms, was ratified by the CFTC on 9 July for its Designated Contract Markets (DCM) licence.

The business was founded four years ago and applied for a CFTC licence in 2022. The QXC site is not yet live.

Polymarket said the acquisition would allow it to launch in the US “in the near future, within a fully regulated, US-compliant framework”.

The hope will be that platform can be up and running before the NFL season starts in September to capitalise on the sports event contracts explosion that has seen Kalshi rise to the fore.

A waitlist has gone live on the Polymarket site for US users.

The notice reads: “Polymarket is coming home. Polymarket will soon be available for US traders. We’re working hard to get the US platform ready for launch – in the meantime, provide your phone number below to receive updates.”

The argument surrounding the legality of sports event contracts and whether they impinge on existing state-by-state sports betting regulations continues to rumble on.                  

Kalshi is facing off against several state regulators in the courts, with those cases still ongoing.

The move also comes on the back of Polymarket reaching unicorn status after a $200m funding round was completed.

Coplan said: “Polymarket is the largest prediction market globally and has become synonymous with understanding the probability of current events.

“Demand is greater than ever – not just in user growth and trading volume, but in how mainstream audiences are turning to Polymarket to separate signal from noise, bias and speculation.

“Now, with the acquisition of QCEX, we are laying the foundation to bring Polymarket home – re-entering the US as a fully regulated and compliant platform that will allow Americans to trade their opinions.”

Sergei Dobrovolskii, QCEX founder, added: “When we began the process to obtain our DCM and DCO licences over four years ago, the prediction market was in its infancy.

“But we have long believed in its potential to change the way people access and understand information and express their views on that information.

“Shayne has built a cultural phenomenon in Polymarket.  I am excited to bring our companies together and leverage our licences, technology and expertise in the retail trading sector to help Polymarket reach its full potential.”

The post Polymarket plots US return after snapping up CFTC-licensed firm for $112m first appeared on EGR Intel.

 Prediction market to pay nine-figure sum to acquire QXC, allowing business to return to the US after the conclusion of the federal investigation into its operations
The post Polymarket plots US return after snapping up CFTC-licensed firm for $112m first appeared on EGR Intel.