Polymarket seeks CFTC approval for U.S. relaunch

Polymarket seeks CFTC approval to relaunch its on-chain prediction market in the U.S., aiming for direct trading access and expanded regulated operations.

Polymarket is seeking approval from the Commodity Futures Trading Commission (CFTC) to relaunch its main on-chain prediction market platform in the United States. Previously, Polymarket barred U.S. users after a 2022 settlement with the CFTC over unregistered binary options trading. The company is now working to meet regulatory requirements to regain access to the U.S. market. Currently, Polymarket operates two platforms: an international on-chain exchange and a U.S.-only version accessed through intermediaries, which was established after acquiring a CFTC-licensed exchange. If approved, U.S. users would be able to trade directly on-chain, expanding Polymarket’s reach and integrating more decentralized finance infrastructure under federal oversight. This move comes amid heightened regulatory scrutiny and growing competition in the prediction market sector, alongside significant recent investments in Polymarket. The outcome of the CFTC's decision remains uncertain, especially regarding on-chain settlement and the use of USDC collateral.