Particle.news
Download on the App Store
20 ARTICLES
·
3w ago

CFTC Staff Grants Conditional Relief to QCX, Clearing a Path for Polymarket’s U.S. Return

The staff no-action letter allows Polymarket to prepare a U.S. relaunch under QCX’s licenses.

Signage is seen outside of the US Commodity Futures Trading Commission (CFTC) in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly/File Photo
Image
Bob Donnan-Imagn Images
Polymarket CEO confirms readiness to launch in US after CFTC event contract ruling

Overview

  • Two CFTC divisions said they will not recommend enforcement against QCX LLC and QC Clearing LLC for certain swap data reporting and recordkeeping tied to event contracts, with relief described as conditional and limited.
  • Polymarket CEO Shayne Coplan called the decision a green light to go live in the United States, though the company has not announced a launch date and U.S. access remains offline as technical and compliance work continues.
  • Polymarket bought QCEX’s licensed exchange and clearinghouse for $112 million in July, shortly after the DOJ and CFTC closed prior investigations without charges.
  • The action was taken at the staff level by the Division of Market Oversight and Division of Clearing and Risk rather than through a full Commission rule, aligning with past no-action positions for other venues.
  • The move heightens competition with rival Kalshi and revives policy questions over event and sports-related contracts, even as Polymarket adds high-profile backing from 1789 Capital and Donald Trump Jr., who joined its advisory board.