Polymarket Seeks CFTC Approval to Reopen Exchange to US Traders

Polymarket is reportedly pursuing Commodity Futures Trading Commission (CFTC) approval to relaunch its main prediction market for US-based users. According to recent discussions with CFTC officials, the company aims to lift its US trader ban, which was implemented following a 2022 settlement. The CFTC had previously approved a separate US-only platform for Polymarket in November. Prediction markets, which allow users to trade contracts tied to future events like elections and sports games, have faced scrutiny from states claiming they operate as unlicensed gambling operations. The CFTC's approval process may be simplified due to current commission vacancies. Meanwhile, a recent incident involved a soldier using 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.