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3w ago

CFTC Grants Polymarket Amended Order, Clearing Way for Intermediated U.S. Exchange Operations

The designation sets up a regulated U.S. return under full DCM oversight, with intermediated access pending final rules, processes, and partner integrations.

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Overview

  • The Amended Order of Designation authorizes Polymarket to offer intermediated access so U.S. customers can trade through futures commission merchants and traditional brokerages.
  • Polymarket says a full public relaunch will follow the implementation of additional rules, supervisory protocols, and operational processes specific to intermediated trading.
  • The company reports upgraded market surveillance, clearing workflows, and CFTC Part‑16 reporting, and it remains subject to self‑regulatory obligations as a Designated Contract Market.
  • The approval builds on Polymarket’s 2025 acquisition of QCX LLC and QC Clearing for about $112 million and follows its 2022 CFTC penalty of $1.4 million that led to blocking U.S. users.
  • Institutional interest is mounting, with media reports of possible ICE investment and Galaxy Digital exploring a liquidity‑provider role, as competitor Kalshi continues to operate in the regulated U.S. market.