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Polymarket plans to return to US market after DOJ ends investigation
Polymarket, the major prediction market, may soon resume operations in the US after clearing regulatory hurdles in the world’s largest and most active financial markets. In facilitating this plan, Polymarket has inked a $112 million deal to acquire QCEX, a CFTC-licensed derivatives exchange and clearinghouse. The move enables the company to offer fully compliant trading of prediction market contracts to US users.
The acquisition comes just days after the New York-based predictions marketplace received formal notification that the US Justice Department and Commodity Futures Trading Commission had closed their probes into the company. The investigations, which examined whether Polymarket continued allowing US-based traders on its platform despite a CFTC settlement, had previously pushed the company to operate offshore.
Polymarket founder and CEO Shayne Coplan called the acquisition a path “home,” saying it will let Americans trade their opinions with full regulatory clarity and confidence. “Demand is greater than ever,” said Coplan in a statement, “not just in user growth and trading volume, but in how mainstream audiences are turning to Polymarket to separate signals from noise, bias, and speculation.”
The acquisition of QCEX marks a significant milestone for the company as it looks to tap into the vast potential of the US market.
Source: cryptobriefing.com
