Polymarket Gains Full CFTC Approval as U.S. Exchange

Polymarket received approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate as a fully regulated exchange.

What’s the scoop?

• Intermediated Access: Brokerages and customers can now onboard directly, with trading routed through Futures Commission Merchants using traditional custody, clearing, and reporting infrastructure.
• Compliance Upgrades: Polymarket has built enhanced market surveillance, supervision policies, clearing procedures, and Part-16 regulatory reporting to meet DCM standards.
• Leadership Statement: CEO Shayne Coplan said the approval enables Polymarket to operate with the transparency the U.S. regulatory framework requires while continuing to deliver clarity and accountability.

Bankless Take:

After years of operating offshore and settling with the CFTC in 2022, Polymarket’s return to the U.S. as a fully regulated entity now positions it on the same ground as Kalshi. Prediction markets are already in the spotlight, and the timing of this announcement lands as Galaxy Digital and Jump move into market making on both exchanges. The leading platforms are signaling they’re tightening operations ahead of real competition. With Kalshi leading Polymarket in total volume traded over the past month, and generally since the beginning of September, we’ll see if this approval helps level the playing field for the crypto-native favorite.