Overview

• Polymarket paid $112 million to acquire QCEX, a CFTC-registered derivatives exchange and clearinghouse, securing immediate access to federal compliance infrastructure.
• Both the DOJ and CFTC closed their investigations into Polymarket last month, removing major legal obstacles to its U.S. return.
• In January 2022 Polymarket agreed to a $1.4 million penalty and voluntarily blocked U.S. users under a CFTC consent order.
• QCEX’s designated contract market and clearinghouse status under the CFTC allows Polymarket to bypass lengthy registration processes.
• Polymarket’s reentry enables direct competition with U.S.-approved rivals like Kalshi and could trigger new state-level legal challenges.