Polymarket has received CFTC approval to resume operations in the United States

ChainCatcher news, Polymarket CEO Shayne Coplan announced that the Commodity Futures Trading Commission (CFTC) has issued a no-action letter to the company, allowing it to resume operations in the United States.

The CFTC stated that it would not take enforcement action against Polymarket for its acquisition of the regulated derivatives exchange QCX for $112 million this July, and it has waived certain record-keeping and data reporting requirements. This decision effectively allows Polymarket to operate in the U.S. under QCX's license. Notably, Polymarket was previously forced to reach a settlement with the CFTC and exit the U.S. market in 2022 for not being registered as a designated contract market. During this 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 prediction market approaching $3.7 billion.