Polymarket has been officially approved by the CFTC to operate in America under full supervision, allowing the platform to collaborate with brokerage firms and provide legal access for American users. This is the first time an on-chain prediction market has been incorporated into the regulatory framework of America, paving the way for institutional participation and increasing liquidity.
To achieve approval, Polymarket has upgraded its monitoring system, management policies, settlement processes, and reporting, transforming from a purely cryptocurrency platform into a CFTC-regulated exchange. This decision marks a shift in America's approach to the prediction market, which has long existed in a legal gray area.
Polymarket is experiencing strong growth with over 1.3 million users, $18 billion in trading volume, and significant backing from ICE. The company's valuation is said to have risen to $12 billion, amidst expectations for the POLY token and a large airdrop.
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