Polymarket Receives CFTC Approval to Launch US Operations
Polymarket is launching US operations following a no-action letter from the Commodity Futures Trading Commission (CFTC), which allows for regulated prediction markets. The CFTC confirmed that QCX LLC and QC Clearing LLC would not face enforcement actions related to swap compliance issues.
Key points include:
- Polymarket acquired CFTC-licensed entities for $112 million in July, now rebranded as Polymarket US and Polymarket Clearing.
- The acquisition followed investigations by the Justice Department and CFTC regarding past compliance issues.
- CEO Shayne Coplan indicated the CFTC's letter is a "green light" for trading prediction contracts legally in the US.
- Donald Trump Jr.'s investment firm, 1789 Capital, backed Polymarket, and he has joined its advisory board.
As Polymarket enters the regulated market, interest is rising in Pepenode, a mine-to-earn memecoin. Its presale has raised $565,500 towards a target of $707,892, with tokens priced at $0.0010407. Users can earn staking rewards and participate in airdrops.
