According to Reuters, the National Futures Association (NFA) has approved Polymarket's PM Derivatives LLC's application for futures commission merchant (FCM) registration, but the company still needs approval from the Commodity Futures Trading Commission (CFTC) before it can officially commence operations. With regulatory approval, PM Derivatives will be able to act as a trading intermediary, receiving client orders and funds, and plans to adopt a fully collateralized model, requiring clients to provide sufficient funds when establishing trading positions. Polymarket currently operates an exchange registered with the CFTC and an offshore platform; this NFA approval provides the means for it to further expand its regulated U.S. operations. Meanwhile, Polymarket still faces regulatory scrutiny, with the CFTC investigating whether it violated a settlement agreement reached in 2022. https://wublock123.com/news/pm-derivatives-polymarket-nfa-approved-fcm-registration-awaiting-cftc-71277