"The move lifts nearly four years of restrictions preventing American users from participating in its blockchain-powered prediction markets. Initially available in the App Store under the sports category, the app allows U.S. users to place bets on sports events, with plans to expand into other markets including proposition bets and election wagers. The app is opening access gradually, inviting users from a previously established waitlist, though not all applicants have received invitations yet."
"In November, Polymarket secured an Amended Order of Designation from the U.S. Commodity Futures Trading Commission (CFTC), allowing it to operate as an intermediated trading platform under the full set of federal rules for U.S. exchanges. The approval enabled the platform to onboard brokerages and customers directly, allowing users to trade through futures commission merchants (FCMs) and access traditional custody, reporting, and market infrastructure."
Polymarket launched a U.S.-focused app after receiving approval from the Commodity Futures Trading Commission, ending nearly four years of U.S. restrictions. The app initially offers sports betting via the App Store and plans to expand into proposition and election markets. U.S. access is being rolled out gradually through a waitlist. Polymarket acquired QCEX for $112 million to use an existing CFTC registration and received a no-action letter allowing legal U.S. operations after a 2022 settlement over unregistered event contracts. The company obtained an Amended Order to operate as an intermediated trading platform and implemented enhanced surveillance, supervision, clearing, and Part 16 reporting to comply with CFTC rules.
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