Polymarkets Strategic Acquisition: A Pathway to Reestablishing Presence in the U.S. Market

The prediction platform Polymarket has acquired the QCEX derivatives exchange for $112 million. QCEX is licensed by the U.S. Commodity Futures Trading Commission (CFTC).

According to a press release, this acquisition marks a significant advancement in expanding access for U.S. users to the world’s largest prediction market.

In 2022, the CFTC fined Polymarket $1.4 million for operating without registration, categorizing the platform’s activities as facilitating off-exchange binary options trading.

In 2024, it was revealed that the Department of Justice was investigating Polymarket for allegedly failing to comply with regulations by not restricting access to U.S. customers. As part of the investigation, agents from the FBI searched the residence of the platform’s founder and CEO, Shane Kaplan, seizing his phone and other electronic devices.

On July 15, the entrepreneur confirmed to the media that the DOJ investigation had been closed. The CFTC also dropped all claims against the company.

«Demand is at an all-time high—not only in terms of user growth and trading volume, but also regarding the broad audience seeking Polymarket to distinguish facts from noise, bias, and speculation. With the acquisition of QCEX, we’re laying the groundwork for our return to the U.S. so that Americans can freely exchange their opinions,» Kaplan stated.

Polymarket’s popularity has surged ahead of the presidential elections in November 2024, with users placing million-dollar bets on both candidates during this period.

It’s worth noting that an expert has evaluated the accuracy of predictions on the platform to be 94% just four hours before the market closes according to their assessment.