The American Crypto Polymarket prediction market platform has obtained the operational green light after the United States Futures Trading Commission (CFTC) Commissioned Commission (CFTC) has published a non-action notice with two entities related to the company. This decision follows a request for regulatory derogation filed in July.
In short
- The CFTC grants a non-action exemption from QCX and QC Clearing, allowing polymarket expansion to the United States.
- The exemption applies to the reporting rules of swap data and register holding for prediction contracts (contract contracts).
- Polymarket acquired QCEX for $ 112 million, including an approved platform and compensation chamber.
- The activity exploded with more than 11,500 new markets in July, while Donald Trump Jr. joined his advisory council.
The exemption from non-action releases the path for event contracts on the US markets
In its Wednesday declaration, the CFTC indicated that it will not engage in enforceable action against QCX LLC and QC Clearing LLC. According to the notice, this letter of non-action concerns the reporting obligations of swap data and the holding of registers for prediction contracts (contracts).
Concretely, this means that Polymarket can offer these contracts in the United States Without fear of sanctions for default. However, this derogation does not exempt companies from their future regulatory obligations.
The divisions will not recommend that the CFTC initiate an enforceable action against one or the other of the entities, nor against their participants, for non-compliance with certain requirements for registry linked to Swaps and for reporting to the depositaries of SWAP data concerning the transactions of binary options and the variable payment contracts.
Declaration of the Commodity Futures Trading Commission
Commenting on this advance, POST CEO, Shayne Coplan, told its more than 98,000 subscribers on X that the action of the CFTC had given the company a real operational accelerator to “start in the United States”. He also expressed his satisfaction at the speed of the process.
Polymarket strengthened its presence on the American market after the purchase of QCEX in July, for an amount of around $ 112 million. The acquisition also included a platform of derivative products and a compensation chamber approved by the CFTC.
A regulatory context more favorable to crypto
In the non-action deposit of July, QCX specified that the contracts would remain fully collateralized, which means that the participants must provide the entire margin required in advance and that no transaction will be compensated by an external member.
This decision illustrates the more flexible position recently adopted by American financial regulators, in a context of administration favorable to cryptocurrencies. Under the chairmanship of Donald Trump, the Securities and Exchange Commission (SEC) abandoned several legal proceedings against Crypto companies, often engaged under the previous administration.
Polymarket had been targeted by these regulatory repressions, receiving a fine of $ 1.4 million for exploitation of “illegal installation, not recorded or not designated”. The regulators also investigated transactions involving American users after the 2024 elections. These files were closed in July.
The reports also revealed that the regulatory authorities had investigated the company about transactions involving users based in the United States following the US elections of 2024. However, these files were closed in July.
Polymarket is now enjoying a favorable dynamic, with a sharp increase in activity in recent months. The company added more than 11,500 new markets in July, an increase of 44 % compared to the previous month. At the same time, she recently appointed Donald Trump Jr., the son of the American president, to his advisory council.
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