Polymarket Seeks CFTC Approval to Reopen Exchange to US Traders

Polymarket is pursuing approval from the Commodity Futures Trading Commission 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 since a 2022 settlement. The CFTC had previously cleared a separate US-only platform, which has yet to launch. Prediction markets, allowing users to trade event-based contracts, face scrutiny from states claiming they operate as unlicensed gambling. The CFTC must vote to remove Polymarket's US block, with Chairman Michael Selig previously asserting states lack authority over these markets. The talks follow a 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.