Polymarket has received CFTC approval to launch in the United States

Foresight News reported that Shayne Coplan, CEO of the prediction market Polymarket, tweeted that Polymarket has received approval from the CFTC to launch in the United States. The CFTC has issued a no-action letter to the company, allowing it to resume operations in the US. The CFTC stated that it will not take enforcement action against QCX, the regulated derivatives exchange acquired by Polymarket for $112 million this July, and has exempted it from certain recordkeeping and data reporting requirements. Previously, Polymarket was forced to reach a settlement with the CFTC and exit the US market in 2022 for failing to register as a designated contract market.