In brief
- Polymarket can now return to the U.S. after the CFTC said it won’t pursue certain enforcement actions against QCX, CEO Shayne Coplan said Wednesday.
- Polymarket acquired QCX, a licensed exchange already regulated by the CFTC, for $112 million in July.
- Polymarket was banned from the U.S. in 2022, and has been looking for a way back into the U.S. market for some time.
Polymarket has received a green light from the CFTC to resume operations in the United States, the company’s CEO said Wednesday, years after the blockchain-based prediction market was fined and pushed offshore for an alleged failure to comply with existing regulations.
The CFTC announced in a statement today that it would not pursue enforcement actions against QCX, a regulated derivatives exchange that Polymarket acquired in July, exempting it from certain recordkeeping and data reporting requirements.
The no-action letter effectively cleared Polymarket to operate in the United States under QCX’s license, Polymarket CEO
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Author: Sander Lutz
