Polymarket aims to launch with legalized sports betting

Polymarket, the predictions market operator, has obtained certifications through its partner companies to facilitate legalized sports betting upon launch.

Since the company has been given the green light to offer its betting services in North America, there has been a quicksilver push to make these available for the fall sporting action.

Polymarket gains approval to operate sports betting on launch

As we reported, Polymarket acquired, as part of a $112 million deal, a Commodity Futures Trading Commission-licensed derivatives exchange, QCX LLC, and its clearinghouse, QC Clearing LLC, collectively known as “QCEX”.

This key piece of business enabled Polymarket to establish a foothold and continue operating in North America. This was backed with a razor-thin approval from the Commodity Futures Trading Commission (CFTC).

At that time, Shayne Coplan, founder and CEO of Polymarket, said, “Polymarket is the largest prediction market globally and has become synonymous with understanding the probability of current events.”

He then posted on social media about Polymarket’s approval to operate in North America and the homecoming that has split state and federal regulators for more than a year.

Polymarket has acquired QCEX, a CFTC-regulated exchange and clearinghouse, for $112 million.

This paves the way for us to welcome American traders again.

I've waited a long time to say this:

Polymarket is coming home