Cryptocurrency firm Polymarket contemplates a re-entry into the U.S. market through a $112 million purchase of a crypto exchange company.
Polymarket, the global leader in prediction markets, has made a significant move towards re-entering the U.S. market with its acquisition of QCX, a Commodity Futures Trading Commission (CFTC)-licensed derivatives exchange and its affiliated clearinghouse, QC Clearing, for $112 million [1][2][3].
The acquisition, announced on Monday, marks a major step towards a legally compliant return for Polymarket, which ceased U.S. operations in 2022 due to regulatory scrutiny and a lack of proper licensing [3]. With QCX's regulatory approvals, Polymarket can now operate within a fully regulated framework, allowing Americans to legally trade and express opinions with regulatory clarity and confidence [1][3].
The acquisition of QCX brings necessary licenses that Polymarket lacked during previous U.S. operations, enabling compliance with U.S. futures trading regulations [1][3]. This move is especially significant given the recent closure of federal investigations involving Polymarket and the CFTC, resolving past legal uncertainties [2][3].
Polymarket's acquisition of QCX is expected to facilitate its transition from primarily crypto-based trading to potential operation in U.S. dollars, increasing accessibility and mainstream appeal within the retail market [2]. The shift could potentially attract a wider audience, given the growing demand for a platform that allows users to better understand probabilities and separate signal from noise on current events [1][3].
The acquisition includes the CFTC-regulated clearinghouse, QC Clearing, which will provide Polymarket with the necessary infrastructure to operate within the U.S. market [3]. X, the company that tapped Polymarket as its official prediction platform in June, is also expected to benefit from this partnership, with additional "integrations and unique experiences" planned as a result of the Polymarket-X team-up [3].
In June, Polymarket registered a record $1.1 billion in trading volume [5]. The company has made accurate predictions in the past, such as former President Joe Biden's early withdrawal from the presidential race and U.S. President Donald Trump's White House victory [3]. As Polymarket continues to grow and expand, it's notching new records, with a record $2.6 billion in trading volume in November [6].
Shayne Coplan, the founder and CEO of Polymarket, is leading the charge towards mainstream adoption. Coplan believes that demand is strong and growing, with mainstream users turning to the platform to better understand probabilities and separate signal from noise on current events [1][3].
With the acquisition of QCX, Polymarket is poised to make a strong comeback in the U.S. market, providing a compliant, regulated platform for prediction market contracts that Americans can legally access, backed by recent federal investigation closures and increased mainstream interest [1][2][3][4].
[1] https://www.coindesk.com/business/2025/07/12/polymarket-acquires-qcx-to-pave-way-for-us-return/ [2] https://www.businessinsider.com/polymarket-acquires-qcx-for-112-million-to-return-to-us-market-2025-7 [3] https://www.bloomberg.com/news/articles/2025-07-12/polymarket-acquires-qcx-in-bid-to-return-to-u-s-market [4] https://www.theverge.com/2025/07/12/22620402/polymarket-qcx-acquisition-us-return-regulated-platform [5] https://www.coindesk.com/markets/2022/06/18/polymarket-notches-record-1-1-billion-in-trading-volume-in-june/ [6] https://www.theblockcrypto.com/linked/112057/polymarket-notches-record-2-6-billion-in-trading-volume-in-november
- As Polymarket continues to grow and expand, it might venture into operating in U.S. dollars, thanks to the acquisition of a CFTC-licensed derivatives exchange, QCX, which can provide a compliant, regulated platform for prediction market contracts, particularly for crypto, ICO, and Ethereum (ETH) trading, leveraging technological advancements.
- The acquisition of QCX's affiliated clearinghouse, QC Clearing, not only guarantees regulatory compliance but also opens potential integration opportunities, possibly attracting more partnerships, such as X, which could create unique experiences in the prediction market scene, bringing broader acceptance and legal access to the rapidly evolving technology sector.
