Polymarket will enter the US after license exchange for USD $ 112 million

By Hannah Pérez

The cryptocurrency betting platform, Polymarket, is ensuring its return to the US market. After acquiring the little known QCX exchange, licensed by the CFTC.

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• Polymarket will enter the US. After buying the little known exchange QCX.
• Authorized by the CFTC, the purchase of QCX opens the way for its regulated return to the US.
• The Department of Justice recently closed an investigation into Polymarket.

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Polymarketthe predictions with cryptocurrencies, its entrance to the US market is being ensured after the acquisition of a locally regulated derivative bag.

The company announced Monday in a press release that has reached an acquisition agreement with QCXa bag of derivatives regulated in the United States, for a sum of 112 million dollars.

The transaction “marks a significant step towards the expansion of access to polymarket in USA“Allowing more users to negotiate prediction market contracts with clarity and regulatory confidence“, Says the statement.

The little known exchange QCX This year received an approval from the Trade Commission of Futures of Basic Products of the United States. Bloombergwhich first reported the news.

Founded in 2020, Polymarket It allows users to bet on the results of future events in the real world, such as political elections, economic events, sports, pop culture and more. Operates with intelligent contracts on PolygonCapa 2 network of Ethereum.

Polymarket He experienced extraordinary growth last year, as presidential elections in the United States promoted predictive bets. The boom was translated into more than USD $ 3 billion of capital bet on the Trump-Harris race, calling regulators’ attention and motivating market manipulation accusations.

Regulated return to the United States

The announcement occurs a week after the United States Department of Justice and the CFTC closed an investigation into Polymarket. The platform was under regulatory pressure in 2024, in the middle of the rise of political bets.

FBI agents had performed an operation at the founder’s house and CEO of PolymarketShayne Coplan, in Soho, New York, to confiscate their belongings under the premise of ongoing investigation.

A report from Bloomberg Last week he indicated that the platform received a formal notification at the beginning of the month about the closure of the investigation, which examined if Polymarket He was allowing US users to access their bet services.

Regulatory clarity and the recent acquisition of QCX pave the legal path for the Return of Polymarket to the US market, three years later having agreed to stop attending the country’s users. In 2022, Polymarket He reached an agreement with the CFTC for allegedly offering illicit contracts of binary options. In return, he agreed to pay a fine of USD $ 1.4 million, liquidate their non -compliant markets and take measures to block US users.

“Polymarket is the largest prediction market worldwide and has become synonymous with understanding the probability of current events“, said Coplan in the statement on Monday.

“The demand is greater than ever – not only in the growth of users and the volume of transactions, but also in how the general public is resorting to Polymarket to separate the noise signal, bias and speculation. Now, with the acquisition of QCEX, we are sitting the basis for Polymarket to return to the United States as a fully regulated and compatible platform that will allow Americans to exchange their opinions“He added.

Last month, COINDESK He informed that Polymarket He was approaching an RUSD $ 200 million ecaudation that would grant the company an assessment of 1,000 million dollars.

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Hannah Estefanía Pérez / Diariobitcoin

Edited image of Unspash, with Polymarket logo

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