Online prediction betting site Polymarket has been cleared to launch in the United States, the platform’s chief executive, Shayne Coplan, said on Wednesday. “Polymarket has been given the green light to go live in the USA by the @CFTC,” the CEO said in a post on X. “Credit to the Commission and Staff for their impressive work. This process has been accomplished in record timing.”
The Commodity Futures Trading Commission announced Wednesday that its Division of Market Oversight and the Division of Clearing and Risk has taken a “no-action position” on swap data reporting and recordkeeping regulations for event contracts, effectively paving the way for the site to launch in the country. The agency said that its divisions aren’t going to recommend an enforcement action against the exchange for not reporting the data.
The CFTC and the Justice Department ended their investigations of Polymarket back in July without filing any charges against the site. The two entities had been investigating whether the company was accepting bets from individuals in the U.S. Following the move, Polymarket announced that it had closed its acquisition of derivatives exchange QCX, with Coplan saying in a statement that it “marks a significant step toward expanding access to Polymarket’s category-defining platform” in the country.
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