Polymarket makes a comeback in the United States by acquiring QCX, a CFTC-regulated exchange, for $112 million, bypassing licensing delays to operate legally.
This move signals the end of a lengthy legal battle with the CFTC and FBI, which forced Polymarket to exit the US market in 2022.
The platform, propelled by its success during the 2024 elections, is gearing up for a $200 million fundraising round to target a billion-dollar valuation.
L’affaire était presque classée. Elle l’est désormais.
Two years after being pushed out of the US market by the CFTC, Polymarket is making a strong return. This time, the crypto betting platform secures a proper entry ticket: a $112 million acquisition of a regulated exchange. The goal? Regain control over the most strategic market on the planet without risking another shutdown.
Une opération chirurgicale : racheter la licence plutôt que la demander
Instead of waiting years to obtain its own license, Polymarket chose the most efficient route: acquiring QCX, a derivatives exchange officially approved by the CFTC on July 9 after a two-year wait. The price tag: $112 million. This sum allows Polymarket to enter the regulated ecosystem without delay.
This move seems like a revenge. In 2022, the platform was forced to cut off US users’ access after an agreement with the CFTC following allegations of unregistered activity. Despite the official withdrawal, authorities suspected that the restriction was not fully enforced. The result? A federal investigation and even a raid on founder Shayne Coplan by the FBI in downtown New York.
Fin du cauchemar judiciaire : place à l’expansion légale
This legal chapter seems closed now. The investigation was dropped last week, paving the way for Polymarket. The New York startup no longer hides its ambitions: thanks to the integration of QCX, it can once again offer its predictive markets to US users, this time under regulatory supervision.
A strategic transition at a time when crypto platforms are desperately seeking legal frameworks to operate. Polymarket chooses compliance, even if it means heavy investment. A way to stand out in a sector often seen as rebellious against authorities.
Le pari gagnant de l’élection de 2024
Polymarket is not like any other player. In 2024, the platform skyrocketed during the US presidential campaign, becoming the go-to platform for predictive markets on elections. Its success was built on a simple principle: allowing users to bet, in crypto, on the probability of future events, elections, the war in Ukraine, sports results, or even judicial decisions.
An audacious approach that attracted attention… but also regulators. Hence the importance of this regulatory shift.
Un avenir sous contrôle… et sous les projecteurs
Polymarket has not yet announced the date of its official return to the United States. But all signs indicate the wheels are in motion. Especially since the company is reportedly finalizing a $200 million funding round, aiming for a billion-dollar valuation.
One thing is certain: Polymarket has shown it is ready to play with the big players. Away from scandals, closer to regulators, but always with the same ambition: to remain the number one platform for crypto predictions.
