Polymarket prepares U.S. relaunch after securing regulatory pathway
Summary
Polymarket, the cryptocurrency-based prediction market platform, is preparing to re-enter the US nearly four years after halting domestic operations under regulatory scrutiny. The company says it will begin listing new contracts for US users from 2 October 2025, following regulatory approvals and a strategic acquisition.
Polymarket bought QCX LLC for $112 million, giving it access to a Designated Contract Market (DCM) licence through the newly renamed Polymarket US. That status allows the firm to self-certify event contracts under CFTC rules; the Commodity Futures Trading Commission then has one business day to object.
Four contract types were self-certified for launch: athletic event contracts, athletic spread contracts, total athletic score contracts and election winner contracts. The firm’s return was paved by a CFTC no-action letter issued in early September, which said the agency would not pursue enforcement over prior swap reporting and recordkeeping concerns — a move Polymarket’s CEO Shayne Coplan described as the green light to resume US operations.
Polymarket drew attention during the 2024 US presidential election for correct market predictions, and now aims to challenge incumbent Kalshi — which already holds a DCM licence — for market share as interest in prediction markets grows.
Key Points
- Polymarket will relaunch US operations and start listing contracts from 2 October 2025.
- The company acquired QCX LLC for $112m, obtaining access to a DCM licence that enables self-certification under CFTC rules.
- Four contract types were self-certified: athletic event, athletic spread, total athletic score and election winner contracts.
- A CFTC no-action letter cleared past enforcement concerns, removing a major regulatory obstacle to re-entry.
- Polymarket aims to compete with Kalshi for US prediction-market volume after strong interest following the 2024 election.
Author’s take
Punchy and to the point: this is a big moment for regulated crypto markets in the US. Polymarket’s deal to secure DCM access and the CFTC no-action letter together convert regulatory fog into a workable route back to American users. If you follow trading venues, DeFi regulation or market structure shifts, the detail here matters — competition with Kalshi will be worth watching closely.
Why should I read this?
Short version: Polymarket’s back — and properly regulated this time. If you’re into prediction markets, crypto-financial services or regulatory shifts that unlock new products, this story tells you who’s likely to move the needle in the US market and why.
Context and relevance
This relaunch signals growing regulatory clarity for decentralised finance products and crypto-native market operators in the US. The DCM pathway and self-certification model could become a template for other platforms wanting to operate under CFTC oversight. For the industry, it heightens competition, may increase weekly trading volumes and brings mainstream regulatory legitimacy to prediction markets.