The prediction platform Polymarket has received regulatory approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate as an intermediary trading platform.
Polymarket stated in a notice on Tuesday that the CFTC issued a revised designation order, which will allow the company to "operate an intermediary trading platform subject to the full set of requirements applicable to federally regulated U.S. exchanges."
According to Polymarket, this approval will enable the platform to directly connect brokers and clients, facilitating trading in U.S. venues.
Polymarket founder and CEO Shayne Coplan said, "This approval allows us to operate in a manner that reflects the maturity and transparency required by the U.S. regulatory framework."
The regulatory approval was obtained about five months after the CFTC and the U.S. Department of Justice concluded their investigation into Polymarket, which involved whether the platform accepted trades from U.S. users. Reportedly, as part of the investigation into the prediction platform, the FBI conducted a raid on Coplan's home and seized his electronic devices.
The prediction platform has been under the supervision and regulation of the CFTC during its operation in the U.S. A market structure bill currently under consideration in Congress may also expand the CFTC's authority over digital assets.
The CFTC notice released by acting chair Caroline Pham comes as the U.S. Senate is expected to vote soon on the nomination of SEC official Michael Selig as the next chair of the commodity regulatory agency. Lawmakers on the Senate Agriculture Committee voted along party lines to advance Selig's nomination.
Even if Selig is confirmed, the CFTC will still have four vacant commissioner seats. As of Tuesday, U.S. President Donald Trump has not announced any potential replacements for the leadership of the regulatory agency.
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Original: “Polymarket receives CFTC regulatory approval to operate intermediary trading platform in the U.S.”
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