Polymarket founder and CEO Shayne Coplan announced on Tuesday that the prediction market platform has received approval from the Commodity Futures Trading Commission for intermediated trading in the U.S.
Polymarket Can Be Traded Through Brokerages
In an X post, Coplan revealed that the latest approval allows customers to trade Polymarket contracts through brokerages and futures commission merchants, clearing its way to operate as a fully regulated exchange.
Coplan called it a “key milestone” toward permeating the U.S. financial system.
He also praised the CFTC, with special thanks to Acting Chair Caroline D. Pham.
“This admin and commission are built different. The pace, thorough feedback on applications, working through weekends – unprecedented,” Coplan said. “Quiet before the storm.”
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The Path To Approval
Polymarket acquired the holding company of QCEX, a licensed derivatives exchange and clearinghouse, for $112 million earlier this year, marking the first step toward its U.S. re-entry.
Notably, Polymarket's website indicated that the platform is preparing for a U.S. launch and will be available to traders “soon.”
Polymarket Takes Big Strides
This approval comes just weeks after Polymarket announced its plans to launch a native token and airdrop, following its official U.S. relaunch. The prediction market platform, where users wager on elections, Fed decisions, and major world events, is also reportedly in early discussions with investors to raise additional funding at a valuation of $12–15 billion.
Earlier in October, Polymarket secured a $2 billion investment from New York Stock Exchange owner Intercontinental Exchange Inc. (NYSE:ICE).
Polymarket has had a cumulative trading volume of more than $35.7 billion, with October volume reaching $4 billion, according to Dune Analytics.
The platform rose to prominence during last year’s election season, with over $3 billion wagered on the outcome of the presidential race between Donald Trump and Kamala Harris. The platform accurately predicted Trump’s victory, but concerns about foreign influence and market manipulation made headlines.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
