Polymarket Secures CFTC Approval to Operate as U.S. Crypto Exchange

TLDR

• Polymarket has received CFTC approval to operate in the U.S. under a fully regulated structure.
• The approval allows Polymarket to onboard U.S. customers and brokerages directly.
• Polymarket will now offer intermediated trading through Futures Commission Merchants (FCMs).
• The platform is committed to complying with U.S. regulatory requirements for transparency and maturity.
• CEO Shayne Coplan expressed gratitude for the CFTC’s support and emphasized the platform’s leadership.
• Polymarket has raised $2 billion at a $9 billion valuation and is seeking a new raise at a $12 billion valuation.
• The platform is planning to introduce its native POLY token to enhance its offerings.

Polymarket, a crypto prediction platform, has secured crucial approval from the U.S. Commodity Futures Trading Commission (CFTC). This approval will allow the platform to operate in the U.S. under a fully regulated structure. With this move, Polymarket can now onboard U.S. customers and brokerages.

CFTC Grants Amended Order for Polymarket’s Operations

In a recent press release, Polymarket confirmed it received an amended order of designation from the CFTC. This approval enables Polymarket to run an intermediated trading platform. It will now comply with the complete regulatory framework of federally regulated U.S. exchanges.

The CFTC’s approval will allow Polymarket to expand its operations in the U.S., including introducing intermediated access, which means users can trade through Futures Commission Merchants (FCMs). Polymarket will leverage traditional market infrastructure, including custody and reporting systems.

The platform’s ability to directly onboard brokerages and customers will mark a major milestone. This move will help it establish a broader presence in U.S. markets. By complying with U.S. regulations, Polymarket aims to increase its transparency and maturity.

Polymarket Positioned for U.S. Return as a Fully Regulated Exchange

Two months after receiving approval for a U.S. return, Polymarket has now received final authorization. The CFTC’s order allows the platform to operate fully within U.S. markets under regulatory oversight. Polymarket’s leadership emphasised its commitment to maintaining transparency in its operations.

Shayne Coplan, CEO of Polymarket, commented, “This approval allows us to operate in a way that reflects the maturity and transparency that the U.S. regulatory framework demands.” Coplan added that Polymarket is grateful for the CFTC’s support. He also confirmed the platform’s dedication to demonstrating leadership in the regulated exchange space.

Polymarket continues to expand its reach in the prediction market. Recently, the platform raised $2 billion at a valuation of $9 billion. It is now looking for another raise at a $12 billion valuation.

Polymarket has also hinted at the launch of its native POLY token. This new token could enhance the platform’s offerings. It is expected to integrate Polymarket into the broader crypto ecosystem.

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