The prediction market platform Polymarket has received approval to operate in the United States after a favorable decision from the Commodity Futures Trading Commission (CFTC). This announcement was made by the company’s CEO on Wednesday.

“Polymarket has officially been authorized to launch in the USA by the @CFTC. Kudos to the Commission and their staff for their exceptional efforts. This achievement has been reached in an unprecedented timeframe,” CEO Shayne Coplan expressed in a post on X.

The CFTC announced that its Division of Market Oversight and Division of Clearing and Risk had adopted a “no-action position” concerning swap data reporting and recordkeeping for event contracts, thus facilitating the platform’s operations within the nation. The agency noted that it would refrain from recommending enforcement actions against the exchange for non-compliance with data reporting.

This decision came after the conclusion of investigations by the CFTC and the U.S. Department of Justice into the company in July. The inquiries, which assessed whether Polymarket had permitted bets from U.S. residents, wrapped up without any charges being filed.

Polymarket also disclosed that it has finalized its acquisition of the derivatives exchange QCX. Coplan remarked that this arrangement “signifies a major advancement towards broadening access to Polymarket’s platform in the United States.”