Polymarket Pushes for CFTC Green Light to Resume U.S. Operations Following 2022 Ban
Polymarket seeks CFTC approval to end its U.S. trading ban from 2022. The $8 billion company could soon compete directly with Kalshi in the American market.
➤ Polymarket is seeking approval from the CFTC to resume U.S. operations after a 2022 ban, aiming to integrate its offshore platform with its U.S.-based acquisition, QCX LLC. ➤ The company settled regulatory violations in 2022 and has since worked to establish a compliant domestic presence, facing scrutiny over whether prediction markets constitute unregulated wagering. ➤ Regulatory clearance would position Polymarket as a direct competitor to Kalshi in the U.S. prediction market space, though ongoing negotiations are complicated by an insider trading case and CFTC commissioner vacancies.