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Polymarket Asks CFTC to Lift 2022 U.S. Trading Ban on Its Main Exchange

A single-commissioner decision could set how on-chain prediction markets fit inside U.S. derivatives rules.

Polymarket eyes cftc approval to reopen main platform to u.s. users
Report: polymarket targets full us return as cftc talks advance

Overview

  • Polymarket has asked the CFTC to remove the block on U.S. users of its primary on-chain exchange, with Bloomberg reporting recent talks between the two sides.
  • The agency currently has only one sitting commissioner, Chair Michael Selig, which could concentrate the decision in a single vote.
  • The restriction stems from a 2022 settlement that imposed a $1.4 million penalty and required Polymarket to bar Americans from its markets.
  • Polymarket built a limited U.S. route by buying QCX in 2025 and launching a sports-focused beta, yet that venue trails the liquidity of its offshore market, which settles trades in stablecoins on Polygon.
  • A reopening would put Polymarket in direct competition with CFTC‑regulated Kalshi, while a recent case alleging a soldier used a VPN to earn more than $400,000 on the site shows how some Americans have tried to trade anyway.