Polymarket Strikes $112 Million Deal to Return to the United States

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Polymarket Strikes $112 Million Deal to Return to the United States – Crypto News

Published

2 days ago

July 22, 2025

Dripp

The prediction market acquired CFTC-compliant exchange, QCX, which will allow it to reenter the U.S. market.

Crypto-powered prediction market Polymarket is set to make its long-awaited return to the United States, following a $112 million acquisition of a small but regulated derivatives exchange, QCX, and clearinghouse, QC Clearing.

Polymarket CEO Shayne Coplan took to X to share the feat today, July 21, stating that the move “paves the way for us to welcome American traders again. I’ve waited a long time to say this: Polymarket is coming home.”

The deal will see Polymarket considered compliant under United States regulations as it now owns an approved derivatives clearing organization (DCO) and designated contract market (DCM) in the form of holding company QCEX, which was just granted its approval to operate by the Commodity Futures Trading Commission (CFTC) on July 9, Bloomberg reported.

Access to Polymarket restricted for U.S.-based users following a 2022 settlement with the CFTC, though the firm remained headquartered in New York and Coplan, also the founder, is a U.S. citizen. Since then, the platform has been “read-only” for United States users, meaning U.S. residents can view the markets and their odds, but not participate in bets. The website now reads “we’re working hard to get the US platform ready for launch”.

The news comes shortly after both the CFTC and the Department of Justice announced they would be dropping investigations into Polymarket and Coplan. The news also follows an announcement on Polymarket’s website that it will be “rolling out a new reward and oracle-resolution system later this year,” after the Zelenskyy suit market debacle earlier this month.

The platform also recently announced its latest round of fundraising at the end of June, where it was reported that Peter Thiel’s Founders Fund was set to close a $200 million raise, which would take Polymarket’s cumulative fundraising total above the $1 billion mark.

Polymarket’s Growth

Polymarket, which exploded in 2024 during the lead up to the U.S. Presidential Election, has been one of this market cycle’s breakout crypto products. The prediction market originally launched in 2020, but remained largely unnoticed by most crypto participants other than the prediction market diehards until last year.

In 2025, the platform averages roughly $1 billion in volume per month, after averaging as little as $50 million per month in the first half of 2024, and less than $10 million per month in 2023.

Polymarket monthly volume. Source: Dune Analytics

Last month, X (formerly Twitter) announced that it would be integrating Polymarket as the social media giant’s preferred prediction market platform

The rollout of announcements also comes shortly after the U.S. House of Representatives’ sweeping approval of several key crypto bills, with the stablecoin-focused GENIUS Act signed into law by President Trump on Friday, which sent the “Made in USA” category of altcoins flying.