Polymarket Resumes U.S. Operations via $112M QCX Acquisition to Comply with CFTC Regulations

Polymarket, a blockchain-based prediction market platform, is set to resume operations in the United States after a three-year hiatus caused by regulatory challenges. The company announced the acquisition of QCX, a fully licensed derivatives exchange and clearinghouse, for $112 million. This strategic move allows Polymarket to leverage QCX’s existing regulatory compliance with the Commodity Futures Trading Commission (CFTC), enabling it to legally reintroduce its services to U.S. users under federal financial regulations [1].

The platform’s exit from the U.S. in early 2022 followed a CFTC investigation into its unregistered status as a derivatives market operator. The regulator fined Polymarket $1.4 million and enforced a temporary halt to U.S. services, a blow that could have crippled smaller firms. However, the company persisted by maintaining operations in international markets and accommodating U.S. users who circumvented geo-blocking via virtual private networks (VPNs). While Polymarket did not endorse this workaround, it acknowledged that U.S. activity never fully ceased [1].

Regulatory clarity became central to Polymarket’s relaunch strategy. In July 2025, QCX received formal CFTC approval, clearing the path for Polymarket’s re-entry. CEO Shayne Coplan described the acquisition as an opportunity to relaunch the platform with the compliance framework it lacked during its initial U.S. operations. By integrating QCX’s infrastructure, Polymarket aims to address past regulatory gaps while maintaining its core model of enabling bets on real-world events, from elections to geopolitical developments [1].

The platform’s return comes amid lingering scrutiny. Critics have long raised concerns about its vulnerability to manipulation, particularly during the 2024 U.S. presidential election. High-stakes accounts placed multi-million-dollar bets favoring Donald Trump, skewing market odds and drawing warnings from analysts about the risks of anonymous, crypto-based trading structures. Such vulnerabilities, critics argue, undermine the reliability of prediction markets as indicators of public sentiment. Polymarket has yet to implement structural safeguards to prevent future manipulation, leaving its credibility under question [1].

Despite these challenges, the platform’s re-entry underscores growing acceptance of blockchain-based financial tools within U.S. regulatory frameworks. By aligning with existing licensing mechanisms, Polymarket demonstrates how decentralized platforms can navigate compliance without abandoning their core innovation. However, its success will depend on balancing user demand for speculative markets with the need to mitigate risks associated with market manipulation and regulatory scrutiny [1].

Source: [1] [Polymarket returns to the US: what you need to know] [https://invezz.com/news/2025/07/23/polymarket-returns-to-the-us-what-you-need-to-know/]