Published on: November 25, 2025, 12:41h.
Updated on: November 25, 2025, 12:41h.
- CFTC has released a revised order of designation
- This order permits Polymarket to run an intermediated exchange in the United States
- The approval sets the stage for Polymarket’s reentry into the US market
Polymarket’s long-anticipated comeback to the United States progressed today as the Commodities Futures Trading Commission (CFTC) unveiled a revised order of designation.
This order from the regulatory body overseeing prediction markets allows Polymarket to function as an intermediated trading platform while fulfilling broader regulatory requirements for federally governed exchanges in the country.
“This clearance enables Polymarket to directly onboard brokerages and clients while facilitating trading across U.S. platforms. The company now has the green light to introduce intermediated access, permitting users to trade through Futures Commission Merchants (FCMs) and utilize traditional market infrastructure including custody and reporting channels,” stated the event contracts leader in a recent announcement.
Obtaining FCM status via the National Futures Association (NFA) is essential for regulated prediction markets. This classification enables the marketing of derivatives regulated by the Commodities Futures Trading Commission (CFTC), the authority overseeing companies like Kalshi and Polymarket.
Polymarket’s Return Ignites Competition in Prediction Markets
The re-entry of Polymarket into the US market occurs over three years after its exit and approximately a year following an FBI raid of founder Shayne Coplan’s New York City residence.
After a recent investment of $2 billion in Polymarket from Intercontinental Exchange (NYSE: ICE), the prediction market operator’s valuation is estimated between $9 billion and $10 billion, making Coplan the youngest self-made billionaire to date. With Polymarket poised for a U.S. return within days, the groundwork is laid for a new and competitive era in prediction markets.
In the absence of Polymarket, Kalshi has secured a substantial market share, while other platforms, including Crypto.com, have advanced in the sports event contracts sector. The anticipated entrance of DraftKings and FanDuel into prediction markets further intensifies the competition.
Industry analysts predict that the domestic prediction markets landscape may evolve into a “big five” model, comprising DraftKings, FanDuel, Kalshi, Polymarket, and Robinhood Markets (NASDAQ: HOOD).
Polymarket Committed to Regulatory Compliance
Polymarket is making it clear that adherence to compliance and strict regulatory standards is a top priority.
“In light of the revised order, Polymarket has established advanced surveillance systems, market oversight policies, clearing processes, and part-16 regulatory reporting capabilities. Further rules, policies, and procedures for intermediated trading will be implemented ahead of the official launch,” the announcement indicated.
Ensuring compliance and regulatory adherence could serve as prudent preparation for Polymarket, especially with speculation regarding a potential initial public offering (IPO) following its return to the U.S.