Polymarket Receives CFTC Approval For Official US Return

"Polymarket, the world's largest crypto-based prediction market, announced today that the U.S. Commodity Futures Trading Commission (CFTC) has issued an Amended Order of Designation. The approval allows Polymarket to operate an intermediated trading platform under the full set of federal rules for U.S. exchanges. The move enables the market to onboard brokerages and customers directly. Users can now trade through futures commission merchants (FCMs) and access traditional custody, reporting, and market infrastructure."

""People rely on Polymarket because we provide clarity where there is confusion," said Shayne Coplan, the founder and CEO of Polymarket. "This approval lets us operate with the maturity and transparency the U.S. regulatory framework demands. We're grateful for the constructive engagement with the CFTC and look forward to leading as a regulated exchange." Polymarket has upgraded its systems in line with the new order. It now has enhanced surveillance, market supervision policies, clearing procedures, and Part 16 regulatory reporting."

"Polymarket was barred in 2022 for running an unregistered derivatives exchange but has returned to the U.S. after acquiring QCX, a regulated contract market and clearinghouse. Polymarket now accepts bitcoin Earlier this year, the platform also announced support for direct bitcoin deposits. Users can now fund accounts with BTC alongside stablecoins like USDC, USDT, and other crypto. In other news, Intercontinental Exchange (ICE), owner of the New York Stock Exchange, is considering a $2 billion investment in Polymarket. The deal could value the platform between $8 billion and $10 billion, according to The Wall Street Journal."

Polymarket obtained a CFTC Amended Order of Designation permitting operation as an intermediated trading platform under full federal exchange rules. The approval enables direct onboarding of brokerages and customers, trading through futures commission merchants (FCMs), and access to traditional custody, reporting, and market infrastructure. Polymarket upgraded systems to meet the order, adding enhanced surveillance, market supervision policies, clearing procedures, and Part 16 regulatory reporting. The firm was previously barred in 2022 but returned after acquiring QCX, a regulated contract market and clearinghouse. The platform now accepts direct bitcoin deposits, and ICE is reportedly considering a multibillion-dollar investment.

Read at Bitcoin Magazine