Polymarket Acquires QCEX in $112 Million Deal to Reenter U.S. Market

Polymarket, the crypto prediction platform, has secured a $112 million acquisition of QCEX's parent company, a CFTC-licensed exchange and clearinghouse. This strategic move marks Polymarket's return to the U.S. market after regulatory hurdles forced its exit in 2022. The deal grants Polymarket access to QCX, LLC and QC Clearing LLC, both holding critical CFTC licenses.

The acquisition follows the closure of a federal investigation into Polymarket's prior operations, which included a probe into whether the company adequately enforced restrictions on U.S. users. With the investigation now dropped, Polymarket is poised to resume services for American users under a regulated framework. QCEX recently received CFTC approval on July 9 after a multi-year application process.

Polymarket's return highlights the evolving regulatory landscape for crypto-based prediction markets. The platform, which allows users to trade on real-world outcomes, had previously settled with the CFTC over operating an unregistered market. This acquisition signals a new chapter for the company as it navigates the complexities of U.S. compliance.