Crypto prediction market platform Polymarket, recently under investigation by the US authorities, is looking to return to the US “in the near future” through the $112m acquisition of CFTC-licensed derivatives exchange QCX, LLC.
The deal, announced today (21 July), was hailed as marking a major step allowing users to trade prediction market contracts “with regulatory clarity and confidence” under Polymarket’s platform.
It comes hot on the heels of the US government dropping two separate investigations into the business following on from an early morning raid at founder and CEO Shayne Coplan’s house days after the 2024 presidential election.
The executive argued the raid was political retribution from Biden Administration officials for featuring Trump having higher odds to win the election than his opponent, in contrast with the opinion polls.
Coplan said: “Polymarket is the largest prediction market globally and has become synonymous with understanding the probability of current events.
“Demand is greater than ever — not just in user growth and trading volume, but in how mainstream audiences are turning to Polymarket to separate signal from noise, bias, and speculation.
“Now, with the acquisition of QCEX, we are laying the foundation to bring Polymarket home — re-entering the US as a fully regulated and compliant platform that will allow Americans to trade their opinions.”
According to publicly available CFTC filings, QCX, LLC received its designation as an authorised Designated Contract Market on 9 July.
Polymarket claims to be world’s largest prediction market
Polymarket says it is currently the world’s largest prediction market, with over $6bn in trades during the first half of 2025 alone.
The company also recently announced an official partnership with social media platform X, which it argued further solidifies its position “at the intersection of politics, markets, and culture”.
Sergei Dobrovolskii, founder of QCEX, added: “When we began the process to obtain our DCM & DCO licences over four years ago, the prediction market was in its infancy. But we have long believed in its potential to change the way people access and understand information and express their views on that information.
“Shayne has built a cultural phenomenon in Polymarket. I am excited to bring our companies together and leverage our licences, technology, and expertise in the retail trading sector to help Polymarket reach its full potential.”
Polymarket previously agreed a deal with the CFTC in 2022 that saw it pay a $1.4m penalty and exit the US, after the agency had alleged it was operating in breach of federal laws.
With the rise of sports event contracts offered by companies such as Kalshi, Robinhood and Crypto.com, the move could pave the way for Polymarket to become a significant regulated presence in the US sports industry.