Key Notes
- CFTC issued no-action letter allowing Polymarket’s US operations through QCX LLC and QC Clearing LLC acquisitions.
- CEO Shayne Coplan called the regulatory decision a green light for launching compliant prediction contracts domestically.
- Donald Trump Jr joined Polymarket’s advisory board as the company positions to dominate US prediction markets.
Polymarket is set to launch US operations after the Commodity Futures Trading Commission issued a no-action letter regarding event contracts. The decision, announced Wednesday, confirms limited and conditional policy relief but marks a pivotal step toward regulated prediction markets in the US.
The regulator clarified that QCX LLC, a designated contract market, and QC Clearing LLC, a derivatives clearing organization, would not face enforcement actions over swap-related compliance issues. The ruling brings the exchanges in line with past CFTC positions for other market operators.
Polymarket acquired these CFTC-licensed entities in July for $112 million. They are now rebranded as Polymarket US and Polymarket Clearing, forming the exchange and clearing framework for American users. The acquisition followed the closure of investigations by the Justice Department and CFTC into Polymarket’s earlier compliance lapses.
CEO Shayne Coplan Calls CFTC Letter “Green Light” for US Launch
Polymarket CEO Shayne Coplan praised the CFTC in a post on X (formerly Twitter) on Wednesday, September 3, hinting that the no-action letter offers the green light needed for the company to begin operations to trade prediction contracts under a legal framework in the US.
Donald Trump Jr., whose venture capital arm, 1789 Capital, invested in Polymarket earlier this year, has joined Polymarket’s advisory board as it expands operations into the US. With regulatory approval, acquisition of licensed entities, and high-profile political support, Polymarket is now in pole position to dominate the prediction market space within the US.
Pepenode Presale Gains Traction as Prediction Markets Enter US
As Polymarket brings prediction contracts into regulated markets, traders speculating on memecoins are flocking toward Pepenode, a mine-to-earn memecoin that lets users build their own virtual server rooms to generate rewards.
Pepenode Presale
The Pepenode presale has already raised $565,500 out of a $707,892 target, with the token priced at $0.0010407 before the next increase. Holders can buy meme nodes, upgrade facilities, and earn staking rewards up to 2,863% APY, with airdrops including $PEPE and $FARTCOIN for top miners.
Visit the official Pepenode website to get in early.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
Ibrahim Ajibade on LinkedIn
Source: https://www.coinspeaker.com/polymarket-gets-cftc-green-light-to-return-to-us-ceo-says/
