Polymarket Bets Big on US Comeback with $112M CFTC-Licensed QCEX Takeover

Polymarket just placed its biggest wager yet—a $112 million acquisition that could crack open the US prediction markets. The crypto-powered betting platform snapped up QCEX, one of the few exchanges holding a coveted CFTC derivatives license. This isn't just another corporate merger—it's a regulatory end-run that could let Polymarket bypass America's prediction market paralysis.

The move comes as US regulators keep playing whack-a-mole with crypto innovators. While the SEC sues everyone from DeFi projects to meme coin creators, Polymarket's playbook looks smarter by the minute: Buy the license instead of begging for permission. After getting booted from the US in 2021 for operating without approval, the platform's coming back with government-stamped paperwork—and Wall Street's usual revolving-door lobbyists are already salivating over the 'regulatory arbitrage' opportunities.

Prediction markets have been stuck in regulatory purgatory for years—too 'gambling' for financial watchdogs, too 'financial' for gambling commissions. Polymarket's acquisition could finally force Washington's hand. Either they'll have to admit these markets serve real economic purpose, or watch another crypto player outmaneuver them through pure capitalist ingenuity. Either way, the house always wins—especially when the house owns the casino license.

Regulatory reset precedes deal

The purchase arrives days after federal investigatorsinto Polymarket’s earlier US activity. The Justice Department and the CFTC sent letters this month, ending probes that began after a January 2022 settlement required the platform to block US users. 

Agents escalated the matter in November, raiding founder Shayne Coplan’s New York apartment as the site processed roughly $2.6 billion in election-season wagers. Coplan later said Polymarket “cooperated and engaged” with authorities and “has been cleared of any wrongdoing.”

QCEX founder Sergei Dobrovolskii spent four years securing designated contract market and derivatives clearing organization licenses. 

Coplan called the acquisition “the foundation to bring Polymarket home,” saying domestic access will let traders price current events “with regulatory clarity and confidence.” 

Dobrovolskii said combining QCEX’s licenses with Polymarket’s order FLOW can “change the way people access and understand information.”

Market share and product scope

Polymarket processed approximately $6 billion in volume during the first half of 2025 and announced an information partnership with X last month. 

The firm operates automated markets on Polygon, where traders stake stablecoins on binary outcomes, ranging from elections to sports. QCEX’s licenses permit listed contracts on economic indicators, financial benchmarks, and event derivatives, provided they meet the CFTC’s public-interest tests. 

Polymarket stated that it will collaborate with regulators to align existing markets with compliant rule sets before opening onboarding for US accounts.

The company did not provide a launch date, but stated that the integration of QCEX technology and clearing functions is underway. 

Once live, American users will post margin and settle payouts through QC Clearing, bringing prediction contracts under the same safeguard regime that governs commodity futures.

Polymarket said the MOVE aligns its global user experience with US oversight and positions the venue for further institutional participation.