Polymarket Secures US Re-Entry Through Acquisition Amid Shifting Regulatory Climate
Polymarket, the crypto-based predictions platform, has negotiated its return to the US market after federal regulators closed investigations into its operations. The New York firm acquired QCX, a derivatives exchange, to facilitate compliant access for American users—a strategic MOVE following its surge in popularity during the 2024 election cycle.
Regulatory scrutiny had centered on whether Polymarket violated a 2022 CFTC settlement barring US trader access. The probe's closure signals a thaw in Washington's stance toward digital asset firms, contrasting with earlier Biden-era restrictions. Polymarket's political wagering products, including bets on Donald Trump's electoral prospects, drove record engagement prior to the regulatory resolution.
