Last updated on July 24th, 2025 at 11:12 am
Polymarket is making a major comeback in the United States after acquiring QCEX, a licensed derivatives exchange and clearinghouse, in a $112 million deal announced on July 21.
The strategic acquisition gives Polymarket a direct route back into the U.S. market after more than two years of operating abroad due to regulatory restrictions. QCEX, headquartered in Boca Raton, Florida, holds both designated contract market (DCM) and derivatives clearing organization (DCO) licenses from the Commodity Futures Trading Commission (CFTC).
Polymarket has acquired QCEX, a CFTC-regulated exchange and clearinghouse, for $112 million.
This paves the way for us to welcome American traders again.
I’ve waited a long time to say this:
Polymarket is coming home 🇺🇸🦅 pic.twitter.com/Qjd5ZbUwKi
— Shayne Coplan 🦅 (@shayne_coplan) July 21, 2025
By purchasing QCEX’s parent company, Polymarket gains access to the regulatory framework needed to operate event-based markets in full compliance with federal derivatives law. The move marks a significant pivot for the platform, which was forced to block U.S. users in January 2022 after settling with the CFTC for $1.4 million over offering unregistered binary options classified as swaps.
Despite its regulatory exit, Polymarket continued to grow globally, emerging as the world’s largest prediction market platform. In the past year alone, users have wagered nearly $15 billion on events spanning politics, cryptocurrency, and popular culture. Its odds-based predictions, particularly around the 2024 U.S. presidential election, have been widely viewed as more accurate and real-time than traditional polls.
This acquisition comes shortly after the CFTC and the U.S. Department of Justice closed their investigations into Polymarket earlier in July without filing charges, clearing legal uncertainties around its operations.
“Demand is greater than ever,”
Polymarket founder Shayne Coplan said.
“With QCEX, we are laying the foundation to bring Polymarket home.”
The platform’s return aligns with shifting regulatory attitudes in the U.S. as the CFTC, under new leadership, signals a more open stance towards prediction markets. Additionally, recent legislative moves like the GENIUS Act suggest clearer federal guidelines for digital asset platforms are on the horizon.
Nonetheless, Polymarket may still face challenges at the state level, where prediction markets could be classified as gambling under local laws. But with its newly acquired regulated exchange, Polymarket is now better positioned to navigate the complex U.S. regulatory landscape with greater legal certainty.
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