CFTC Approves Polymarket to Launch Crypto Platform in the U.S.

The Commodity Futures Trading Commission (CFTC) has granted Polymarket, a crypto-based prediction platform, approval to operate in the United States. A no-action letter issued on September 3 allows the platform to function under specific conditions without facing enforcement actions.

Polymarket, which gained traction during the 2024 presidential election, will operate through QCX, a designated contract market, and QC Clearing, a derivatives clearing organization. The CFTC's decision follows the dismissal of a federal investigation earlier this summer.

Shayne Coplan, Polymarket's CEO, announced the milestone on X, stating the platform has been "given the green light to go live in the USA by the CFTC." The platform has seen a surge in activity, with over 11,500 new markets launched in July alone—a 44% month-over-month increase.