Original Title: "Polymarket Acquires Exchange QCEX for $112 Million, U.S. Compliance Ticket Secured, Next Step: Issuing Tokens?"
Original Author: Editor Jr, BlockTempo
On July 21, the decentralized prediction platform Polymarket announced that it has acquired the CFTC-approved exchange and clearinghouse QCEX for $112 million, officially securing its compliance ticket and re-entering the U.S. market.
Compliance Becomes the Only Passport
Polymarket CEO Shayne Coplan stated:
"This move lays the foundation for Polymarket's return to the U.S. market, allowing us to become a fully regulated and compliant platform."
Looking back to 2022, Polymarket was targeted by the CFTC for operating without registration, forcing it to lock out U.S. users. Now, through the acquisition of the licensed QCEX, Polymarket has filled all regulatory gaps at once, incorporating the term "legal" into its product description.
A Turning Point After Five Years of Drift
However, during the five years spent outside the borders, Polymarket still delivered impressive numbers. According to platform data, Polymarket's trading volume in the first half of 2025 is approximately $6 billion, indicating strong demand.
The CFTC's formal approval defines prediction contracts as financial instruments regulated under the Commodity Exchange Act, eliminating concerns about "gambling"; meanwhile, the conclusion of investigations by the U.S. Department of Justice and the CFTC against Polymarket further removed uncertainties.
The Market Value of Information Aggregators
It is worth mentioning that following last year's U.S. presidential election betting frenzy, experts pointed out that Polymarket not only has a price pool but also serves as a real-time mirror of public opinion.
Coplan believes that Polymarket can "distinguish signals, noise, bias, and hype," and the implied probabilities formed by a large number of participants' bets are often viewed externally as real-time indicators of the likelihood of events occurring. During the 2024 U.S. presidential election, several media outlets cited Polymarket data as a thermometer. Recently, Polymarket also announced an official partnership with Elon Musk's X platform, attempting to further push prediction data into mainstream communities.
Next Step: Issuing Tokens?
Analysts point out that after obtaining a U.S. license, Polymarket's user base and trading volume are expected to expand again. For other fintech startups, entering regulated markets through the acquisition of licensed companies has proven to be a viable shortcut. The broader impact is that prediction markets are seen as alternative data sources, which may help fill the time gap of traditional polls and research reports, allowing investment institutions to access faster information for event-driven trading.
Additionally, it is worth noting that there has been speculation in the community that Polymarket may plan to launch its own native cryptocurrency (for example, The Information previously reported that Polymarket was considering issuing tokens to enhance market operations or as a financing tool), but as of July 2025, Polymarket executives have not publicly confirmed any token issuance plans.
Currently, Polymarket's acquisition of a U.S. compliance license has led the community to believe that the platform is getting closer to the final timeline for issuing tokens.
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