Polymarket Returning To U.S. With $112 Million Acquisition After Prosecutors Drop Probe

Polymarket, the crypto-powered betting platform known for its political prediction markets, is preparing a return to the U.S. after a federal investigation into its operations was dropped last week, the company said in a press release on Monday.

The New York-based company is acquiring QCX, a regulated derivatives exchange, for $112 million. The Commodity Futures Trading Commission (CFTC) granted QCX approval to operate on July 9, two years after first applying for a license.

The deal gives Polymarket a legal path back into the U.S., where it had agreed in 2022 to stop serving American users. At the time, Polymarket settled with the CFTC for operating an unregistered market and agreed to block U.S.-based traders. But despite that agreement, authorities later began investigating whether the company had failed to enforce that restriction. The Justice Department and the CFTC had been probing Polymarket for months.

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