Polymarket, a crypto-betting platform known for its decentralized prediction markets, has reentered the United States after acquiring the CFTC-regulated derivatives exchange QCEX.
The move marks the platform’s return to the U.S. market after a three-year absence that followed regulatory actions by the Commodity Futures Trading Commission (CFTC) and the U.S. Department of Justice (DOJ).
The acquisition of QCEX cost Polymarket approximately $112 million and provides the company with the regulatory infrastructure necessary to resume operations within the U.S.
QCEX is a designated contract market (DCM) and a derivatives clearing organization (DCO), both of which are required to legally offer derivatives trading services to U.S. residents.
The exchange first applied for CFTC approval in 2022 and secured it on July 9, 2025. Polymarket CEO Shayne Coplan confirmed the acquisition and described it as more than a business transaction, calling it a “homecoming” for the platform.
Coplan said that the deal positions Polymarket to resume offering its services directly to American users without the need for virtual private networks or other workarounds previously used to access the platform.
Polymarket was initially forced to block U.S. users in 2022 as part of a settlement with the CFTC, which had accused the platform of operating an unregistered derivatives trading venue. The platform paid a fine of $1.4 million and agreed to block access to residents of the U.S.
With DOJ and CFTC investigations now officially closed, the firm has acted to bring itself in line with current U.S. regulatory demands through the QCEX acquisition. The platform’s reentry comes amid a broader shift in regulatory attitudes in the United States.
Agencies like the SEC and the CFTC are showing signs of easing their previous approach which is enforcement-first, in favor of a more collaborative regulatory framework.
New legislation like the GENIUS Act is also assisting in bringing this about, with a signal of increased openness to digital asset innovation.
Polymarket’s resurgence is likewise into its broader growth strategy. The company is reportedly aiming for a $1 billion valuation and is taking in $200 million in fresh capital.
The platform has attracted attention in its cryptocurrency price markets and ETF decisions, with an increasing number of users ready to take part in real-time event betting through the use of blockchain technology.
