Polymarket, Advised by Trump’s Son, Clear to Operate in US
Posted on: September 3, 2025, 08:22h.
Last updated on: September 3, 2025, 08:22h.
- Prediction markets operator clear to launch in the US following CFTC decision
- Commission says it has no-action stance on Polymarket acquisition target QCX
- Donald Trump Jr. recently joined company as an advisor
Prediction markets operator Polymarket got the go-ahead to launch in the US Wednesday after the Commodities Futures Trading Commission (CFTC) said it’s taking a no-action position on an event contracts request from QCX LLC — the target of a Polymarket takeover.
Polymarket founder and CEO Shane Coplan confirmed the news on social media platform X, saying his company “has been given the green light to go live in the USA by the CFTC.”
The Commodity Futures Trading Commission’s Division of Market Oversight and the Division of Clearing and Risk today announced they have taken a no-action position regarding swap data reporting and recordkeeping regulations for event contracts in response to a request from QCX LLC, a designated contract market, and QC Clearing LLC, a derivatives clearing organization,” according to a statement issued by the regulator.
In July, Polymarket announced a $112 million deal to acquire clearinghouse and derivatives exchange QCEX LLC, paving the way for its US entry. That purchase is useful because QCX, LLC., the derivatives arm of the target, is licensed by the CFTC.
Polymarket Has Friends in High Places
The CFTC announcement on QCX arrived about a week after Donald Trump Jr.’s 1789 Capital took a multi-million-dollar stake in Polymarket with the president’s son also joining the company’s advisory board. He’s also on the advisory board of Kalshi –Polymarket’s most direct competitor.
It’s not clear if Trump Jr. swayed the CFTC in any way, but he’s increasingly prominent in cryptocurrency circles (Polymarket is a crypto-based platform) and a long-time proponent of prediction markets. He famously said that on Election Night last November, he and his family and friends were monitoring Kalshi over traditional media to get a handle on his father’s path to victory.
Leadership at the CFTC is currently somewhat in flux as the commission is being run by Interim Director Caroline Pham because Brian Quintenz, President Trump’s nominee, has yet to be confirmed. There’s speculation that some in the cryptocurrency community, including supporters of the president’s campaign, are urging him to reconsider the Quintenz nomination.
Prediction Markets Loom Large This Football Season
With Polymarket cleared to operate in the US, it’s clear prediction markets will be prominent this football season. News of the CFTC ruling arrived amid a flurry of coverage of Kalshi offering parlays, unless prevented by the commission. It’s believed that Polymarket is asking its customers what they’d like to see when it comes parlays and player props.
Those headlines emerged a day after Crypto.com, which was already active in sports predictions markets, announced a partnership with Underdog Fantasy whereby the brokerage firm will bring its sports event contracts to the gaming company’s customers clients in 16 states.
Last month, Robinhood Markets (NASDAQ: HOOD) announced Tuesday its Robinhood Derivatives, LLC (RHD) will offer yes/no contracts on regular season college football games and the NFL this year.
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