Prediction platform Polymarket has acquired derivatives exchange QCEX, licensed by the U.S. Commodity Futures Trading Commission (CFTC), for $112 million.
According to a press release, the deal "represents a landmark step" in expanding access for users in the United States to the world's largest prediction marketplace. The acquisition is expected to accelerate Polymarket's compliance with U.S. regulations and facilitate a wider range of prediction markets for American users.
In 2022, the CFTC fined Polymarket $1.4 million for providing services without registration. The regulator classified the platform's activities as a trading service for over-the-counter binary options.
In 2024, it became known that the Department of Justice was investigating Polymarket. The company allegedly failed to fulfill its obligations and did not restrict access to its services for American clients. As part of the case, FBI agents searched the apartment of the platform's founder and CEO Shane Coplan. Law enforcement officers seized a phone and other electronics.
On July 15, the entrepreneur confirmed media reports that the DOJ had terminated its investigation. The CFTC also dropped all claims against the company. These developments mark a turning point for Polymarket, which is now seeking to expand within the boundaries of U.S. law.
"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. Now, with the acquisition of QCEX, we are laying the foundation to bring Polymarket home — re-entering the US as a fully regulated and compliant platform that will allow Americans to trade their opinions," Coplan said.
The popularity of Polymarket grew significantly in the run-up to the presidential election in November 2024 – users placed millions of bets on both candidates.
