What is Polymarket trying to do with the CFTC?

Polymarket is seeking approval from the Commodity Futures Trading Commission to reopen its main prediction market to US users. The platform has been restricted since a 2022 settlement. Approval would allow US traders to access its global exchange again.

Why was Polymarket previously banned for US users?

Polymarket restricted US access after reaching a settlement with the CFTC in 2022 over regulatory compliance issues. The platform moved its main exchange offshore as part of that agreement. This created a gap in access for US-based traders.

How would CFTC approval change Polymarket’s business?

If approved, Polymarket could directly serve US users on its main platform again. This would expand its addressable market and increase trading volume. It would also bring more of its activity under US regulatory oversight.

How does Polymarket compare to Kalshi in the US?

Kalshi currently operates as a regulated prediction market in the US. If Polymarket is approved, it would become a direct competitor. This could increase competition in event-based trading markets.

What role does the CFTC play in this decision?

The CFTC regulates derivatives and prediction markets in the US. It must vote to approve any change allowing Polymarket to reopen to US users. The decision will determine whether the platform can operate under US rules again.

Why could the approval process be faster than usual?

The CFTC currently has only one sitting commissioner, Chairman Michael Selig, due to vacant seats. This could simplify the voting process. However, it may also raise governance and oversight questions.

What regulatory concerns surround prediction markets like Polymarket?

Some US states argue prediction markets resemble unlicensed gambling platforms. There is ongoing debate over whether these products should be treated as financial instruments or betting services. This uncertainty adds regulatory risk.

Polymarket seeks CFTC nod to return to US

Written by Mahathir BayenaPublished Apr. 29 2026Last Updated Apr. 29 2026

Polymarket is seeking approval from the Commodity Futures Trading Commission to reopen its main prediction market to US traders after a 2022 settlement forced it offshore.

The move would allow Polymarket to compete more directly with Kalshi and bring more event-based trading under US regulatory oversight.

The proposal requires a formal vote by the CFTC, a process that may be simplified as the commission currently has only one sitting member, Chairman Michael Selig.

Polymarket has already secured approval for a separate US-based platform following its acquisition of a registered exchange, although that service has yet to fully launch.

The renewed push comes amid increased scrutiny of prediction markets, which some states argue resemble unlicensed gambling operations rather than regulated financial products.

The discussions also follow a recent insider trading case involving a user who allegedly bypassed US restrictions using a VPN to place trades based on classified information.

If approved, the decision could mark a significant shift in how prediction markets operate in the US, potentially expanding access while tightening regulatory oversight.