"Polymarket held discussions with CFTC officials in recent weeks about lifting the prohibition tied to a 2022 enforcement action. The company, which operates its main exchange offshore, wants to bring that platform back to U.S. users directly rather than routing them through its regulated domestic vehicle."
"The CFTC charged Polymarket, then operating as Blockratize Inc., four years ago with offering unregistered event contracts to U.S. persons without the required regulatory designations. The company settled by paying a $1.4 million civil monetary penalty and agreeing to block American traders from its international platform."
"In July 2025, the company acquired QCX LLC, a CFTC-registered derivatives exchange and clearinghouse, for approximately $112 million. QCX was rebranded as Polymarket US and gave American traders a compliant path to the platform through licensed brokerages."
Polymarket is in talks with the CFTC to remove a ban that has restricted its blockchain-based exchange from U.S. traders since 2022. The company aims to bring its main platform back to American users instead of using a regulated domestic vehicle. Previously, Polymarket faced enforcement action for offering unregistered event contracts, resulting in a $1.4 million penalty. After acquiring QCX LLC, a CFTC-registered exchange, Polymarket established a compliant path for U.S. traders, leading to a soft launch of a domestic version focused on sports.
Read at news.bitcoin.com
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