Polymarket wins regulatory approval to operate US trading platform

Prediction platform Polymarket just scored regulatory approval from the US Commodity Futures Trading Commission to operate an intermediated trading platform — basically they're going legit in the US market.

In a Tuesday notice, Polymarket said the CFTC issued an Amended Order of Designation that'll let them "operate an intermediated trading platform subject to the full set of requirements applicable to federally regulated US exchanges." Translation: they can now onboard brokerages and customers directly and facilitate trading on US venues.

The regulatory approval dropped about five months after the CFTC and US Department of Justice closed their investigation into whether Polymarket was accepting trades from US-based users. The FBI even raided Coplan's home during the probe and seized his electronic devices — talk about regulatory heat 🔥

Now Polymarket operates under CFTC oversight in the US, and there's a market structure bill moving through Congress that could expand the CFTC's authority over digital assets even further.

This approval came under acting chair Caroline Pham while the US Senate is expected to vote soon on SEC official Michael Selig as the next CFTC chair. The Senate Agriculture Committee already voted along party lines to advance Selig's nomination.

Even if Selig gets confirmed, the CFTC would still have four empty commissioner seats. As of Tuesday, President Donald Trump hadn't announced any replacements for the regulator's leadership — so we're looking at some major regulatory musical chairs.