Polymarket has acquired the parent company of QCEX, a
CFTC-licensed exchange and clearinghouse, in a $112 million deal that paves the
way for the crypto prediction market’s return to the United States.
Based on the sale's terms, Quadcode Group will assume the role of a strategic shareholder in addition to being a technology partner to Polymarket.
The move follows the end of a federal
investigation into Polymarket’s prior operations, clearing a path for the
company to resume service to American users within a regulated framework.
Polymarket has acquired QCEX, a CFTC-regulated exchange and clearinghouse, for $112 million.
This paves the way for us to welcome American traders again.
I've waited a long time to say this:
Polymarket is coming home 🇺🇸🦅 pic.twitter.com/Qjd5ZbUwKi
— Shayne Coplan 🦅 (@shayne_coplan) July 21, 2025
Previous Settlement and Easing Regulations
Polymarket previously agreed in 2022 to block U.S.
users after settling with the CFTC over operating an unregistered market.
Authorities later began investigating whether the firm had fully enforced that
restriction.
The Justice Department and the CFTC
CFTC
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss
Read this Term reportedly led the
probe, which included a search of CEO Shayne Coplan’s residence in New York. According to the company, the investigation has now been dropped. QCEX reportedly received CFTC approval to operate as a
derivatives exchange and clearinghouse on July 9, after a multi-year
application process.
"Polymarket is the largest prediction market globally
and has become synonymous with understanding the probability of current events," commented
Shayne Coplan, Founder and CEO of Polymarket.
"Demand is greater than ever, not just in user growth
and trading volume, but in how mainstream audiences are turning to Polymarket
to separate signal from noise, bias, and speculation."
Polymarket allows users to trade on the outcomes of
real-world events using cryptocurrency. Topics range from politics and
elections to sports and international affairs. The platform drew increased
attention during the 2024 U.S. election cycle and has seen growing adoption in
2025.
Previously: FBI Raids Polymarket CEO’s Home, Seizes Phone
The company said users placed about $6 billion in
predictions on the platform during the first half of the year. Polymarket also
announced a recent partnership with social media platform X.
Next Steps Unclear, But Platform Eyes U.S. Relaunch
Polymarket has not announced a timeline for when U.S.
users will regain access to the platform, but the QCEX acquisition
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term gives it a
legal structure to do so. The move comes amid a broader trend of crypto firms
seeking regulatory clarity by acquiring or building within licensed frameworks.
Recent reports suggested Polymarket was in talks
to raise up to $200 million at a $1 billion valuation. Polymarket’s return to
the U.S. could further legitimize prediction markets, which remain lightly
regulated in most jurisdictions.
Last year, the U.S. Federal Bureau of Investigation (FBI) raided the home of Polymarket CEO Shayne Coplan, seizing his phone, according to a report by the New York Post. The Department of Justice reportedly investigated Polymarket over allegations that the platform enabled U.S. users to place bets on real-world events.
Polymarket has acquired the parent company of QCEX, a
CFTC-licensed exchange and clearinghouse, in a $112 million deal that paves the
way for the crypto prediction market’s return to the United States.
Based on the sale's terms, Quadcode Group will assume the role of a strategic shareholder in addition to being a technology partner to Polymarket.
The move follows the end of a federal
investigation into Polymarket’s prior operations, clearing a path for the
company to resume service to American users within a regulated framework.
Polymarket has acquired QCEX, a CFTC-regulated exchange and clearinghouse, for $112 million.
This paves the way for us to welcome American traders again.
I've waited a long time to say this:
Polymarket is coming home 🇺🇸🦅 pic.twitter.com/Qjd5ZbUwKi
— Shayne Coplan 🦅 (@shayne_coplan) July 21, 2025
Previous Settlement and Easing Regulations
Polymarket previously agreed in 2022 to block U.S.
users after settling with the CFTC over operating an unregistered market.
Authorities later began investigating whether the firm had fully enforced that
restriction.
The Justice Department and the CFTC
CFTC
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss
The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss
Read this Term reportedly led the
probe, which included a search of CEO Shayne Coplan’s residence in New York. According to the company, the investigation has now been dropped. QCEX reportedly received CFTC approval to operate as a
derivatives exchange and clearinghouse on July 9, after a multi-year
application process.
"Polymarket is the largest prediction market globally
and has become synonymous with understanding the probability of current events," commented
Shayne Coplan, Founder and CEO of Polymarket.
"Demand is greater than ever, not just in user growth
and trading volume, but in how mainstream audiences are turning to Polymarket
to separate signal from noise, bias, and speculation."
Polymarket allows users to trade on the outcomes of
real-world events using cryptocurrency. Topics range from politics and
elections to sports and international affairs. The platform drew increased
attention during the 2024 U.S. election cycle and has seen growing adoption in
2025.
Previously: FBI Raids Polymarket CEO’s Home, Seizes Phone
The company said users placed about $6 billion in
predictions on the platform during the first half of the year. Polymarket also
announced a recent partnership with social media platform X.
Next Steps Unclear, But Platform Eyes U.S. Relaunch
Polymarket has not announced a timeline for when U.S.
users will regain access to the platform, but the QCEX acquisition
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term gives it a
legal structure to do so. The move comes amid a broader trend of crypto firms
seeking regulatory clarity by acquiring or building within licensed frameworks.
Recent reports suggested Polymarket was in talks
to raise up to $200 million at a $1 billion valuation. Polymarket’s return to
the U.S. could further legitimize prediction markets, which remain lightly
regulated in most jurisdictions.
Last year, the U.S. Federal Bureau of Investigation (FBI) raided the home of Polymarket CEO Shayne Coplan, seizing his phone, according to a report by the New York Post. The Department of Justice reportedly investigated Polymarket over allegations that the platform enabled U.S. users to place bets on real-world events.
