Polymarket Eyes US Return via $112 Million Crypto Exchange Acquisition

Key Points

1. Polymarket acquired QCX, a CFTC-regulated derivatives exchange, for $112 million to facilitate its re-entry into the U.S. market as a compliant platform.

2. The acquisition includes QC Clearing, a CFTC-regulated clearinghouse.

3. Polymarket faced scrutiny from the U.S. Department of Justice and CFTC last year for allegedly allowing American users, but the investigations have concluded.

4. In June, X (formerly Twitter) named Polymarket its official prediction platform, marking a significant partnership.

5. Polymarket recorded $2.6 billion in trading volume in November, its highest month on record, and $1.1 billion in June.