POLYMARKET TO RETURN TO U.S. AFTER ACQUISITION

Summary from the TLDR Crypto newsletter

Polymarket is acquiring CFTC-licensed derivatives exchange QCX for $112 million, securing the regulatory approval needed to legally reopen its crypto prediction markets to US users. QCX's registration will enable Polymarket to offer fully compliant market contracts, expanding its popular events trading platform that boomed during the 2024 election. The deal comes after both the DOJ and CFTC closed investigations into Polymarket's prior US operations under a 2022 settlement. With this move, Polymarket aims to re-enter the US “in the near future,” challenging CFTC-regulated rivals like Kalshi and potentially shaking up sports betting.