Polymarket Receives CFTC Approval For Official US Return
Polymarket Receives CFTC Approval for Intermediated US Market Access
Polymarket, the world’s largest crypto-based prediction market, has received approval from the U.S. Commodity Futures Trading Commission (CFTC) for an Amended Order of Designation. This milestone allows Polymarket to operate as an intermediated trading platform under the full set of federal rules for U.S. exchanges.
With this approval, Polymarket can now onboard brokerages and customers directly, enabling users to trade through futures commission merchants (FCMs) and access traditional custody, reporting, and market infrastructure. Shayne Coplan, the founder and CEO of Polymarket, expressed gratitude for the constructive engagement with the CFTC and emphasized the platform’s commitment to operating with maturity and transparency.
Polymarket has made significant upgrades to its systems in alignment with the new order, including enhanced surveillance, market supervision policies, clearing procedures, and regulatory reporting. The platform will implement additional rules and processes for intermediated trading before its official launch, remaining subject to the Commodity Exchange Act and CFTC regulations.
Polymarket Expands Payment Options with Bitcoin Support
In addition to the CFTC approval, Polymarket has introduced support for direct bitcoin deposits earlier this year. Users now have the option to fund their accounts with BTC alongside stablecoins like USDC, USDT, and other cryptocurrencies.
Furthermore, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is reportedly considering a $2 billion investment in Polymarket. This potential deal could value the platform between $8 billion and $10 billion, as reported by The Wall Street Journal. Shayne Coplan, at the age of 27, has emerged as the youngest self-made billionaire following these developments.
Polymarket has also secured investments from 1789 Capital, backed by Donald Trump Jr., and acquired derivatives exchange QCEX for $112 million, obtaining a CFTC license in the process. The platform’s strategic moves and innovations have positioned it as a key player in the prediction market space.
On a competitive note, Kalshi, another major prediction market accepting bitcoin, recently raised $300 million at a $5 billion valuation. The platform aims to expand access to over 140 countries, with its annualized trading volume expected to reach $50 billion. The prediction market sector is witnessing significant growth and investment interest, with Polymarket and its peers driving innovation and expanding market access.
