Polymarket Gets CFTC Approval to Operate Fully as US Exchange

Crypto market prediction platform Polymarket has received CFTC approval to operate fully as an exchange for US retail users and brokerages. The company has gotten an Amended Order of Designation, permitting it to operate an intermediated trading platform in the US, subject to the same rules and regulations of a federally regulated U.S. exchange.

Polymarket is now permitted to introduce intermediated access, enabling users to trade through FCMs and leverage traditional market infrastructure, custody, and reporting channels. The company will soon begin onboarding brokerages and customers directly and facilitate trading on U.S. venues.

“People rely on Polymarket because we provide clarity where there is confusion and accountability where there is ambiguity,” said Shayne Coplan, Founder and CEO of Polymarket. “This approval allows us to operate in a way that reflects the maturity and transparency that the U.S. regulatory framework demands. We’re grateful for the constructive engagement with the CFTC and look forward to continuing to demonstrate leadership as a regulated U.S. exchange.”

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The news comes less than two months after the CFTC approved Polymarket to operate its market prediction platform in the US. The prediction platform was previously kicked offshore and paid a $1.4 million penalty in 2022 to settle allegations of illegal trading with the Commodity Futures Trading Commission. In the past year, it has grown in popularity abroad and is now set to make its official return to the US.