Prediction Market Polymarket Poised to Relaunch in US Within Days

Multinationals in the forecast market are expected to reopen to US users almost four years after being effectively banned by the CFTC, with regulatory submissions showing that they can do that tomorrow or soon.

Polymarket, which operates a cryptocurrency-based forecast market on the Polygon Network, has begun self-certifying its own event agreements through the exchange of CFTC licenses it acquired in July.

Polymarket has acquired QCX LLC. This is currently in charge of the business as Polymarket US, and is acquired for $112 million. By acquiring the company, Polymarket has obtained a designated contract market license that recognizes the ability to self-certify the markets available to users.

After the acquisition, Polymarket had to wait several weeks for the CFTC to issue an action letter to say that CFTC would not pursue enforcement for violations of “Swap Data Reporting and Record Keeping Regulations.” When the letter arrived in the first week of September, Politics CEO Shane Coplan said it was the company’s “greenlight living in the US.”

Polymekhett has stood out in the 2024 election, when users on the platform correctly predicted President Donald Trump’s reelection. The forecast market has since sparked fires, with both Polymet and its biggest competitor, Karshi, drawing hundreds of millions of competitors in weekly trading volumes. Recently, Kalshi has moved forward in terms of market share and is supported by its established presence in the US through its own DCM license.

Currently, DCM licensed Polymarket targets the same coveted US users through a regulated self-authorized market.

Self-certification is the default method run by CFTC-regulated companies. One business day will be different for the CFTC when a DCM holder submits a form explaining that the new market is compliant with all relevant laws and regulations. Otherwise, the market can be listed immediately.

However, in this case, Polymarket US explicitly states that the market will be listed “before October 2, 2025.” Four filings include certifications for athletic events, athletic spreads, and athletic score total contracts and election winner event contracts.

Polymarket did not respond immediately to requests for comment on its restart Decryption.

However, the company’s CEO said a lot during Monday’s DC Panel about changes in the US regulatory environment. Coplan appeared on panels for the Joint Securities and Exchange Commission and Commodity Futures Trade Commission with executives from Cboe Global Markets, Nasdaq, Kalshi and Kraken.

“I think it’s clear that this administration wants regulators to cultivate defi,” he said. He added a warning that he believes he knows better than regulators how to build smart contracts that provide investors’ protection, namely software that runs cryptographic applications.

“I think it’s us and other players to come up with solutions that embody the spirit of rules that can become original and be seen with technology capabilities in traditional financial regulations,” Kaplan added.