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Polymarket, the world\u2019s largest crypto-based prediction market, announced today that the U.S. Commodity Futures Trading Commission (CFTC) has issued an Amended Order of Designation.\u00a0<\/p>\n
The approval allows Polymarket to operate an intermediated trading platform under the full set of federal rules for U.S. exchanges.<\/p>\n
The move enables<\/a> the market to onboard brokerages and customers directly. Users can now trade through futures commission merchants (FCMs) and access traditional custody, reporting, and market infrastructure.<\/p>\n \u201cPeople rely on Polymarket because we provide clarity where there is confusion,\u201d said Shayne Coplan, the founder and CEO of Polymarket. \u201cThis approval lets us operate with the maturity and transparency the U.S. regulatory framework demands. We\u2019re grateful for the constructive engagement with the CFTC and look forward to leading as a regulated exchange.\u201d<\/p>\n Polymarket has upgraded its systems in line with the new order. It now has enhanced surveillance, market supervision policies, clearing procedures, and Part 16 regulatory reporting.\u00a0<\/p>\n Additional rules and processes for intermediated trading will be implemented before the official launch. Polymarket remains subject to the Commodity Exchange Act and CFTC regulations, including self-regulatory obligations.<\/p>\n Polymarket was barred in 2022 for running an unregistered derivatives exchange but has returned to the U.S. after acquiring<\/a> QCX, a regulated contract market and clearinghouse.<\/p>\n Earlier this year, the platform also announced<\/a> support for direct bitcoin deposits. Users can now fund accounts with BTC alongside stablecoins like USDC, USDT, and other crypto.\u00a0<\/p>\n In other news, Intercontinental Exchange (ICE), owner of the New York Stock Exchange, is considering<\/a> a $2 billion investment in Polymarket. The deal could value the platform between $8 billion and $10 billion, according to The Wall Street Journal.<\/p>\n In October, the company was reportedly<\/a> exploring a funding round at a $12\u201315 billion valuation.<\/p>\n Shayne Coplan, 27, has become the youngest self-made billionaire following the investment. Just a few years ago, he was an NYU dropout building the company from his bathroom.\u00a0<\/p>\n The platform has also drawn investors such as 1789 Capital, backed by Donald Trump Jr., and acquired derivatives exchange QCEX for $112 million, gaining a CFTC license in the process.<\/p>\n One of it\u2019s competitors, Kalshi, another major prediction market accepting bitcoin, recently raised<\/a> $300 million at a $5 billion valuation and plans to expand access to over 140 countries, with annualized trading volume soaring toward $50 billion.\u00a0<\/p>\n<\/p><\/div>\nPolymarket now accepts bitcoin<\/h2>\n