Polymarket Acquires Derivatives Exchange QCEX for $112M to Expand US Footprint

Key Points

1. Polymarket acquired QCEX, a CFTC-regulated exchange and clearinghouse, for $112 million to establish a compliant foothold in the US.

2. The acquisition marks a significant step in Polymarket's US expansion, allowing it to operate as a fully regulated platform for American traders.

3. Polymarket has been officially closed to US users since 2022 but has seen substantial global activity, including $6 billion in wagers in the first half of 2025.

4. The company is nearing unicorn status with a $200 million funding round led by Peter Thiel’s Founders Fund, valuing it at a high level despite US restrictions.

5. Polymarket recently partnered with Elon Musk’s X to integrate prediction markets with Grok, enhancing its visibility and user engagement.