Summary
- Polymarket's CEO announces the acquisition of its competitor, QCX.
- The aim of this move is to enable Polymarket to re-enter the U.S. market.
- "Shayne Coplan states that prediction markets are becoming mainstream."
Polymarket is aiming to establish a CFTC-approved derivatives exchange, a move that could allow the prominent company to re-enter the United States after previously being forced out due to legal disputes with authorities.
Polymarket is ready to move back on the US in strength
Polymarket now seems poised for a comeback, as its competitor, Kalshi, has successfully navigated legal challenges to its offerings. On Monday, July 21, Polymarket announced it has acquired QCX, LLC for $112 million, aiming to re-establish itself in the U.S. market. This announcement follows a decision by the current administration to halt investigations into the platform's legitimacy. Shayne Coplan, the company's CEO and a subject of the investigation, confirmed the news on social media platform X. Polymarket is coming home, Coplan declared, emphasizing that demand for Polymarket’s services is greater than ever, with mainstream audiences increasingly using its prediction markets. With the $112 million acquisition of QCEX, a CFTC-regulated exchange and clearinghouse, Coplan stated, This paves the way for us to welcome American traders again. I've waited a long time to say this: Polymarket is coming home 🇺🇸🦅. He elaborated that obtaining QCEX will allow Polymarket to re-enter the U.S. as a fully regulated and compliant platform, enabling Americans to express and trade their opinions. This return is expected to significantly enhance the company's operational performance. Polymarket, already the largest prediction market globally, has reported handling approximately $6 billion in total trades during the first half of 2025. Re-entering the U.S. market could further strengthen the company's influence and position in the sector.
Prediction markets are going mainstream, confirms exchange’s boss
The announcement was naturally welcomed by QCEX, the company that was the target of the acquisition. Founder Sergei Dobrovolskii expressed his satisfaction, stating, When we started the process of obtaining our DCM and DCO licenses over four years ago, the prediction market was still in its early stages. However, we have always believed in its potential to transform how people access, comprehend, and express their opinions on information. He praised Polymarket as a cultural phenomenon and expressed his excitement about taking advantage of the combined products, licenses, and technology that the two exchanges could now offer.
