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The predictions marketplace has bought a little-known derivatives exchange and clearinghouse called QCX, that will help Polymarket to legally re-enter the US. The move will help formally open the betting site to US users after its surging popularity in 2024 when users placed millions of dollars of wagers on President Donald Trump returning to office.
Polymarket’s dealmaking comes just as a new, permanent head of the CFTC is likely to take office. Brian Quintenz, a former Republican CFTC commissioner who was most recently head of policy at the digital asset-focused arm of venture capital firm Andreessen Horowitz, has been nominated to lead the agency. He has also served on the board of directors of Kalshi.
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