Commodity Futures Trading Commission gives Polymarket go-ahead for US launch

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Predictions platform Polymarket has received the green light to resume operations in the US after ceasing operations in the country over three years ago.

The Commodity Futures Trading Commission approved the relaunch in a no-action letter on September 3 following Polymarket’s acquisition of derivatives exchange and clearing house QCEX. Polymarket acquired the group for US$112 million.

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However, the decision has stirred some controversy. According to Reuters, prediction platforms are still up for debate within the financial sector over their use in traditional polling compared to some who deem them only as “digital casinos.”

Nick Jones, founder of crypto firm Zumo, said, “The CFTC’s acting chair has previously referred to prediction markets as ‘an important new frontier’ and today’s decision certainly cements this sentiment. Some on Wall Street now believe prediction markets could be bigger than the stock market one day.”

Now on its way back to the US, Polymarket, which allows users to trade contracts on various events, including sports and the 2024 Presidential Election, follows the success of rival Kalshi, which won a court case against the Commodity Futures Trading Commission last year.

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The prediction platforms have also seen some high-key investments in recent months, with Kalshi receiving a US$2 billion valuation and Polymarket adding Donald Trump Jr. to its advisory board.

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2025/06/05: Arizona Gaming Director criticises Commodity Futures Trading Commission 2025/07/22: Polymarket acquires QCEX for US$112 million in US market re-entry bid 2025/06/09: Polymarket ties up with X as official prediction market partner 2025/06/25: Polymarket close to finalizing US$200 million funding round