Polymarket Aims to Revive US Operations with CFTC Approval

Polymarket is reportedly seeking Commodity Futures Trading Commission (CFTC) approval to relaunch its main prediction market platform for US users. According to sources, the company has been in talks with CFTC officials to lift the ban on US-based traders, imposed after a 2022 settlement. The CFTC previously approved a separate US-only platform for Polymarket in November. Prediction markets, which allow users to trade contracts tied to future events, have faced scrutiny from states claiming they operate as unlicensed gambling operations. The CFTC's approval process may be simplified due to vacant commission seats, with Chairman Michael Selig previously asserting the CFTC's authority over these markets. The development comes after a soldier was accused of using a VPN to access Polymarket's international exchange and make over $400,000 from trades based on classified information. Polymarket has declined to comment on the matter.