Polymarket Seeks CFTC Approval to Bring Main Crypto Exchange Onshore in US
Polymarket is seeking CFTC approval to bring its primary crypto-native prediction exchange into the regulated US market.Summary
Polymarket has applied for clearance from the US Commodity Futures Trading Commission (CFTC) to bring its main crypto-native prediction exchange onshore. This strategic move aims to expand its US presence beyond the limited intermediated access currently provided through QCX LLC, potentially allowing American users to trade directly on-chain using USDC on the Polygon network.
The company's push follows significant regulatory milestones, including the acquisition of QCEX and the establishment of a regulated US arm. This expansion comes amidst a period of massive financial growth, highlighted by a $2 billion strategic investment from Intercontinental Exchange and ongoing discussions for a new funding round at a $15 billion valuation.
While the move could integrate decentralized finance infrastructure into a federally supervised framework, it remains to be seen if the CFTC will approve on-chain settlements and USDC collateral. The outcome will also impact the competitive landscape against rivals like Kalshi, which already operates as a regulated event contract market.
(Source：BeInCrypto)