Polymarket Seeks CFTC Approval to Reopen Exchange to US Traders

Polymarket is reportedly seeking Commodity Futures Trading Commission (CFTC) approval to relaunch its main prediction market for US users. The company has been in discussions with CFTC officials to lift its US trader ban, which was imposed after a 2022 settlement. If approved, this move would allow Polymarket to rival Kalshi in the US market and bring more event-based trading under CFTC oversight. The CFTC had previously cleared a separate US-only Polymarket platform, but it has yet to launch. Prediction markets, which involve trading contracts tied to future events like elections and sports games, have faced increased scrutiny from states that view them as unlicensed gambling operations. The CFTC would need to vote on removing the US block, a process that may be simplified due to vacant commission seats. This 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.