Polymarket Seeks CFTC Approval to Reopen Platform to US Traders

Polymarket is reportedly seeking Commodity Futures Trading Commission (CFTC) approval to relaunch its main prediction market for US users. According to sources, the company has been in discussions with CFTC officials to lift its US trader ban, imposed after a 2022 settlement. The CFTC had previously cleared a separate US-only Polymarket platform, which has not yet fully launched. Prediction markets, allowing users to trade event-based contracts, have faced state scrutiny over unlicensed gambling concerns. A CFTC vote is required to remove the US block, potentially simplified by the current commission vacancies. This development follows a recent case where a soldier allegedly used a VPN to access Polymarket's international exchange, making over $400,000 from trades based on classified information. Polymarket has declined to comment on the matter.