Polymarket, the world's largest prediction market, is set to re-enter the U.S. market following the acquisition of QCEX, a Commodity Futures Trading Commission (CFTC)-licensed derivatives exchange and clearinghouse, for $112 million. This move marks a significant step for Polymarket, which was previously restricted from operating in the U.S. since 2022, after settling with the CFTC over unregistered binary options. The acquisition enables Polymarket to offer its prediction market services to U.S. users within a fully regulated and compliant framework.

The acquisition of QCEX provides Polymarket with the necessary regulatory infrastructure to operate legally in the United States. QCEX holds licenses from the CFTC, permitting listed contracts on economic indicators, financial benchmarks, and event derivatives. QCEX received CFTC approval to operate as a derivatives exchange and clearinghouse on July 9, 2025. This includes a designated contract market (DCM) and derivatives clearing organization (DCO) licenses. The integration of QCEX's technology and clearing functions is already underway. Once live, American users will post margin and settle payouts through QC Clearing, bringing prediction contracts under the same safeguard regime that governs commodity futures.

Polymarket's founder and CEO, Shayne Coplan, emphasized the importance of this acquisition, stating that it lays the foundation for bringing Polymarket back to the U.S. as a fully regulated platform. He noted the increasing demand for Polymarket's services, with mainstream audiences turning to the platform to "separate signal from noise, bias, and speculation". Coplan believes that this move will allow Americans to "trade their opinions" with regulatory clarity and confidence.

QCEX's founder, Sergei Dobrovolskii, expressed excitement about the collaboration, highlighting the potential to "change the way people access and understand information" by combining QCEX's licenses with Polymarket's order flow. Dobrovolskii spent four years securing the necessary licenses, believing in the potential of prediction markets to reshape how people access, understand, and express their views on information.

The purchase arrives shortly after federal investigators closed criminal and civil inquiries into Polymarket's earlier US activity. The Justice Department and the CFTC sent letters this month, ending probes that began after a January 2022 settlement required the platform to block US users. The investigation included a search of CEO Shayne Coplan's residence in New York. Polymarket cooperated with authorities and has been cleared of any wrongdoing.

Polymarket has experienced significant growth, with users making approximately $6 billion in predictions on the platform in the first half of 2025. The platform recently formed a partnership with social media site X to further solidify its position "at the intersection" of politics, market, and culture.

Prior to this acquisition, Polymarket faced regulatory scrutiny and settled with the CFTC in 2022 for operating an unregistered market, agreeing to pay a $1.4 million fine and restrict U.S. users. The platform is also blocked in several jurisdictions, including France, Singapore, Thailand, Belgium, and Poland.

Polymarket stated that it will collaborate with regulators to align existing markets with compliant rule sets before opening onboarding for US accounts. Once live, American users will post margin and settle payouts through QC Clearing, bringing prediction contracts under the same safeguard regime that governs commodity futures. Polymarket said the move aligns its global user experience with US oversight and positions the venue for further institutional participation.

This re-entry into the U.S. market is expected to have a positive impact on the prediction market industry. By competing with other platforms, Polymarket will offer users a wider range of options, driving innovation and improving the quality of prediction market services.