TechFlow news, September 4 — According to Decrypt, Polymarket CEO Shayne Coplan announced that the U.S. Commodity Futures Trading Commission (CFTC) has issued a no-action letter allowing the prediction market platform to resume operations in the United States.
The CFTC stated it will not take enforcement action against QCX, the regulated derivatives exchange acquired by Polymarket for $112 million in July, and has granted exemptions from certain recordkeeping and data reporting requirements. This decision effectively allows Polymarket to operate in the U.S. under QCX's license.
Notably, Polymarket previously reached a settlement with the CFTC in 2022 and exited the U.S. market due to failing to register as a designated contract market. During that time, the platform primarily focused on prediction markets related to U.S. politics and culture, with trading volume in its 2024 U.S. presidential election market approaching $3.7 billion.
