Polymarket is set to re-enter the U.S. market after acquiring QCX, a derivatives exchange licensed by the Commodity Futures Trading Commission, for $112 million. The acquisition follows the conclusion of investigations by the Justice Department and the CFTC, which previously halted Polymarket's operations due to licensing issues. Since its absence from the U.S. market in 2022, Polymarket has seen growth in users and trading volume internationally. The company's founder emphasizes the increasing mainstream demand for its services as it prepares to launch a fully compliant platform for American users.
Polymarket has acquired QCX, a Commodity Futures Trading Commission-licensed derivatives exchange, for $112 million, re-opening its platform to U.S. users in the near future.
The Justice Department and CFTC have concluded their investigations of Polymarket, facilitating the site’s re-entry into the U.S. market after ceasing operations in 2022.
CEO Shayne Coplan emphasized the strong demand for Polymarket, stating, "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."
With the acquisition of QCEX, Polymarket aims to operate as a fully regulated and compliant platform, enabling U.S. citizens to trade their opinions legally.
Collection
[
|
...
]