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Polymarket Acquires QCEX for $112M in Strategic Move to Re-Enter US Market
Polymarket Acquires QCEX for $112M in Strategic Move to Re-Enter US Market
20
3
BTCCSquare news:
Polymarket has secured a $112 million acquisition of derivatives exchange QCEX, marking a pivotal step in its planned return to the US market. The prediction market platform exited the region in 2022 after settling with the CFTC, which included a $1.4 million penalty.
The deal coincides with QCEX's filing for CFTC designation as a contract market. "This transaction enables Americans to trade prediction contracts with regulatory clarity for the first time," said Polymarket CEO Shayne Coplan. The MOVE capitalizes on growing demand for event-driven markets following Kalshi's recent legal victory allowing election betting.
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