The on-chain gaming platform Polymarket announced on 9/4 that it has received a "No-Action Letter" from the Commodity Futures Trading Commission (CFTC), looking forward to returning to the U.S. market. Although this measure does not equate to a complete exemption from regulation, Polymarket has indeed gained a temporary compliance buffer.
Acquired QCEX in July, aiming to return to the US market.
Polymarket acquired the US-licensed derivatives exchange QCEX and its clearing house QC Clearing for $112 million in July this year, which is seen as one of Polymarket's key plans to return to the US.
Polymarket was investigated by federal agencies in the United States in 2022 due to Compliance issues, and subsequently fined $1.4 million while being required to block U.S. users. However, the related investigation officially concluded this summer, and Polymarket subsequently announced that it would accelerate its return to the U.S. market by acquiring QCEX and QC Clearing.
(Polymarket acquires licensed derivatives exchange QCEX returning to the United States: We're home)
CFTC released in September, issued a "no-action letter"
On September 4th, the CFTC's Market Oversight Division (Division of Market Oversight) and the Clearing and Risk Division (Division of Clearing and Risk) jointly issued a statement regarding the designated contract market QCX under QCEX and the clearing agency QC Clearing, releasing a "No Action Letter."
The CFTC has clearly stated that even if QCX and QC Clearing do not fully comply with certain record-keeping requirements related to swaps (Swaps), and have not reported trading data such as "binary options" and "variable payout contracts" to the swap data repository (Swap Data Repository, SDR), regulatory authorities will not temporarily impose fines or enforcement actions on these companies or trading participants.
(Note: Swaps refer to contracts where both parties exchange future "how money is paid" agreements, such as interest swaps or currency swaps. The event contracts of Polymarket are considered swaps in the United States because they are essentially derivative contracts that bet on future outcomes, with settlement methods similar to binary options; therefore, they must comply with record-keeping and data reporting regulations.)
What is the CFTC's "No-Action Letter"?
In simple terms, financial contracts of this kind originally had to leave a record and upload data to the official database, but the CFTC makes an exception allowing this not to be done initially and will not pursue it, which is known as a "no-action" letter.
The CFTC emphasized that this handling method is limited to "specific narrow circumstances" and is consistent with past practices regarding other similar institutions, effectively granting QCX and QC Clearing a temporary "Compliance exemption."
The CEO passionately shouted, preparing for a strong comeback.
On the same day as the CFTC announcement, Polymarket CEO Shayne Coplan also tweeted (X) stating:
"Polymarket has received the green light from the CFTC. Thank you to the committee and the working team for their tireless efforts in completing this process in a very short time."
In addition, Polymarket has recently attracted support from heavyweight figures, such as Donald Trump Jr., the son of Trump, who invested and joined the advisory team in August, while Musk's X also announced a partnership with Polymarket in July.
According to data, the number of active traders on Polymarket peaked during the U.S. presidential election in January 2025 and has been declining ever since. However, there was a significant rebound in July, with the number of traders bouncing back to over 250,000, indicating that the momentum of return is slowly becoming apparent.
This article discusses Polymarket receiving a "no-action letter" from the CFTC, with CEO Coplan expressing hopes to return to the U.S. market. It first appeared in on-chain news ABMedia.
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Polymarket received a "no-action letter" from the CFTC, CEO Coplan: looking forward to returning to the U.S. market
The on-chain gaming platform Polymarket announced on 9/4 that it has received a "No-Action Letter" from the Commodity Futures Trading Commission (CFTC), looking forward to returning to the U.S. market. Although this measure does not equate to a complete exemption from regulation, Polymarket has indeed gained a temporary compliance buffer.
Acquired QCEX in July, aiming to return to the US market.
Polymarket acquired the US-licensed derivatives exchange QCEX and its clearing house QC Clearing for $112 million in July this year, which is seen as one of Polymarket's key plans to return to the US.
Polymarket was investigated by federal agencies in the United States in 2022 due to Compliance issues, and subsequently fined $1.4 million while being required to block U.S. users. However, the related investigation officially concluded this summer, and Polymarket subsequently announced that it would accelerate its return to the U.S. market by acquiring QCEX and QC Clearing.
(Polymarket acquires licensed derivatives exchange QCEX returning to the United States: We're home)
CFTC released in September, issued a "no-action letter"
On September 4th, the CFTC's Market Oversight Division (Division of Market Oversight) and the Clearing and Risk Division (Division of Clearing and Risk) jointly issued a statement regarding the designated contract market QCX under QCEX and the clearing agency QC Clearing, releasing a "No Action Letter."
The CFTC has clearly stated that even if QCX and QC Clearing do not fully comply with certain record-keeping requirements related to swaps (Swaps), and have not reported trading data such as "binary options" and "variable payout contracts" to the swap data repository (Swap Data Repository, SDR), regulatory authorities will not temporarily impose fines or enforcement actions on these companies or trading participants.
(Note: Swaps refer to contracts where both parties exchange future "how money is paid" agreements, such as interest swaps or currency swaps. The event contracts of Polymarket are considered swaps in the United States because they are essentially derivative contracts that bet on future outcomes, with settlement methods similar to binary options; therefore, they must comply with record-keeping and data reporting regulations.)
What is the CFTC's "No-Action Letter"?
In simple terms, financial contracts of this kind originally had to leave a record and upload data to the official database, but the CFTC makes an exception allowing this not to be done initially and will not pursue it, which is known as a "no-action" letter.
The CFTC emphasized that this handling method is limited to "specific narrow circumstances" and is consistent with past practices regarding other similar institutions, effectively granting QCX and QC Clearing a temporary "Compliance exemption."
The CEO passionately shouted, preparing for a strong comeback.
On the same day as the CFTC announcement, Polymarket CEO Shayne Coplan also tweeted (X) stating:
"Polymarket has received the green light from the CFTC. Thank you to the committee and the working team for their tireless efforts in completing this process in a very short time."
In addition, Polymarket has recently attracted support from heavyweight figures, such as Donald Trump Jr., the son of Trump, who invested and joined the advisory team in August, while Musk's X also announced a partnership with Polymarket in July.
According to data, the number of active traders on Polymarket peaked during the U.S. presidential election in January 2025 and has been declining ever since. However, there was a significant rebound in July, with the number of traders bouncing back to over 250,000, indicating that the momentum of return is slowly becoming apparent.
This article discusses Polymarket receiving a "no-action letter" from the CFTC, with CEO Coplan expressing hopes to return to the U.S. market. It first appeared in on-chain news ABMedia.