Polymarket's $112 Million Deal for U.S. Comeback

Polymarket, a crypto-driven prediction market, is poised to make its much-anticipated return to the United States, following a significant acquisition deal worth $112 million for QCX, a small regulated derivatives exchange, and QC Clearing, a clearinghouse. This acquisition is expected to enable U.S. traders to once again engage with the platform.

Key Takeaways

Polymarket has acquired QCX and QC Clearing for $112 million to facilitate its return to the U.S. market.
The acquisition allows Polymarket to comply with U.S. regulatory requirements through its newly formed holding company, QCEX.
U.S. users have been unable to participate in betting on the platform since a 2022 CFTC settlement, but this deal marks a promising turnaround.
Recent news includes the conclusion of legal investigations by the CFTC and the Department of Justice regarding Polymarket and its CEO, Shayne Coplan.
Polymarket recently announced upcoming features and a significant fundraising round boosting its leadership in the prediction market sector.

Polymarket U.S. return cover image

Main Content

Polymarket, the crypto-centric prediction market platform, is gearing up to return to the U.S. following a noteworthy acquisition deal worth $112 million, which includes QCX, a regulated derivatives exchange, and QC Clearinghouse. Shayne Coplan, the CEO of Polymarket, announced on X (formerly Twitter) on July 21 that this acquisition “paves the way for us to welcome American traders again,” expressing his excitement about Polymarket's comeback to the U.S. market.

The acquisition allows Polymarket to align with U.S. regulations, as it now owns an authorized derivatives clearing organization (DCO) and a designated contract market (DCM) through its new holding company, QCEX. This approval was granted by the Commodity Futures Trading Commission (CFTC) on July 9, as reported by Bloomberg.

Access to Polymarket has been restricted for users based in the U.S. since a settlement with the CFTC in 2022, although the company has kept its headquarters in New York, and Coplan, the founder, is a U.S. citizen. Since the restriction, the platform has operated in a “read-only” mode for American users, allowing them to observe market odds without participating in betting. The website currently indicates that they are diligently preparing the U.S. platform for launch.

The announcement comes just after reports that the CFTC and the Department of Justice are discontinuing their investigations into both Polymarket and Coplan. Additionally, Polymarket has hinted at the introduction of a new reward and oracle-resolution system later this year, especially after its recent controversies concerning the Zelenskyy suit market.

Earlier in June, Polymarket announced that Peter Thiel’s Founders Fund was nearing the completion of a $200 million fundraising round, bringing the platform's total fundraising above the $1 billion mark. This follows Polymarket's tremendous growth in 2024, particularly related to the U.S. Presidential Election, where it became one of the standout crypto products.

Since its launch in 2020, Polymarket has seen fluctuating levels of interest, averaging about $1 billion in volume monthly by 2025. The platform had significantly lower transaction volumes, with only $50 million in the first half of 2024 and less than $10 million monthly in 2023.

In a recent development, X has decided to integrate Polymarket as its preferred prediction market platform, indicating a robust partnership. Additionally, the U.S. House of Representatives recently approved several significant crypto bills, including the GENIUS Act focused on stablecoins, further boosting the momentum in the crypto sector.