Polymarket wins CFTC approval, paving regulated path for US market return

Polymarket is on the way back to the US, but this time regulated under the Commodity Futures Trading Commission (CFTC). In 2022, despite being based in New York, it moved to block US customers after pressure came from regulators under the Joe Biden administration.

Now, Polymarket has received an Amended Order of Designation from the CFTC. The approval means people in the US can now trade Polymarket contracts through regular Futures Commission Merchants (FCMs) and traditional brokerages, just like they would on other federally regulated exchanges. In other words, it opens the door for Polymarket to potentially partner with companies like PrizePicks.

Today Polymarket US was approved by the @CFTC for intermediated trading – aka letting people trade Polymarket through their brokerages. A key milestone for permeating the US financial system.

Much props to our legal and US ops team. This process has historically taken years…… https://t.co/F7vTXngo9Y

— Shayne Coplan