Polymarket Would Relaunch in The US This Week With DCM License

• Polymarket’s QCX acquisition grants fast track access to U.S. derivatives trading.
• Kalshi remains a strong rival with political contracts and rising investor backing.
• Political ties and regulatory changes suggest broader acceptance of prediction markets in the U.S.

Polymarket is preparing to relaunch in the United States this week, nearly four years after regulators forced it out. The platform secured approval through a CFTC no-action letter on September 3, clearing earlier violations. CEO Shayne Coplan confirmed the authorization, describing it as a “green light to go live in the USA.”

Acquisition Grants Market License

Polymarket accelerated its return by acquiring QCX LLC in July for $112 million, rebranding it as Polymarket US. The deal provided a Designated Contract Market license, eliminating the lengthy application process normally required for new operators. 

Licensed DCM holders may self-certify contracts, with the CFTC having one business day to challenge submissions. Regulatory filings show the company certified four types of contracts for listing. 

These include athletic event outcomes, athletic spreads, total score projections, and election winner contracts. According to filings, contracts were not begin trading before October 2, giving regulators time to review compliance. The certification process enables immediate listings once no objections are raised.

Platform Prepares for U.S. Customers

Ahead of the relaunch, Polymarket opened a waiting list for American users. A homepage notice states registrants will receive text messages once trading opens. The relaunch reverses restrictions imposed in January 2022, when Polymarket agreed to block U.S. customers and paid a $1.4 million penalty. Regulators had cited its operation as an unregistered exchange.

Trading activity on the global platform surged in recent years despite the U.S. ban. Data from Polymarket Analytics, unaffiliated with the platform, reports $877 million in volume. By contrast, competitor Kalshi, a licensed U.S. exchange, processed $291 million. The numbers show Polymarket’s larger international control and set for renewed domestic competition.

Kalshi, however, maintains a strong American base after securing court approval to list political event contracts. The CFTC later withdrew its appeal, preserving Kalshi’s authority. Recent reports indicate the exchange is nearing a $5 billion funding round. Kalshi also processed notable sports trading volumes at the start of the National Football League season.

Related: Polymarket and Kalshi Aim Billions After Regulatory Approval

Political Links and Regulatory Outlook

Polymarket’s return coincides with the involvement of 1789 Capital, an investment firm linked to Donald Trump Jr. Politico reported in August that Trump Jr. joined Polymarket’s advisory board ahead of its U.S. launch. His venture firm, 1789 Capital, also took a stake, though investment details are undisclosed. The timing followed the quiet closure of earlier DOJ and CFTC probes.

On Monday, Coplan appeared on a joint SEC and CFTC panel alongside executives from Nasdaq, Kalshi, Cboe Global Markets, and Kraken. He argued that regulators should support decentralized finance under established safeguards. Coplan added that industry participants must design smart contracts providing protections comparable to those in traditional financial regulation.

The CFTC’s approach shows increasing accommodation for event based derivatives within existing frameworks. Rather than block such markets, the agency has issued targeted relief and allowed licensed operators to certify contracts. Analysts say that this combination of regulatory clearance and licensing is a change for the industry’s legal standing in the United States.

Polymarket’s return also coincides with increased political sensitivity. Traders are already speculating on the duration of the federal government shutdown, with Polymarket odds diverging from Kalshi’s expectations. Such contracts show the potential influence of prediction markets on public debate and policymaking during contentious national events.

Meanwhile, Polymarket secured a licensed pathway back into the United States through its QCX acquisition and regulatory approvals. The platform’s re-entry introduces competition with Kalshi while reopening politically significant contracts under oversight. With certified contracts prepared, trading is expected to resume for U.S. customers in the coming days.