Polymarket, a platform for prediction markets, has secured the okay from the US Commodity Futures Trading Commission (CFTC) to kick off an intermediated trading platform in the United States.

In a recent announcement, Polymarket expressed that the CFTC released an Amended Order of Designation allowing the firm to “run an intermediated trading platform in accordance with full requirements set for federally regulated US exchanges.”

As a result of this regulatory approval, Polymarket anticipates engaging brokerages and customers directly while facilitating trades on US venues.

“This approval enables us to function in alignment with the transparency and maturity that the American regulatory framework demands,” stated Polymarket’s founder and CEO, Shayne Coplan.
Translation: “This approval allows us to operate in a way that reflects the maturity and transparency that the US regulatory framework demands,” said Polymarket founder and CEO Shayne Coplan.

The green light from regulators came just five months following an investigation by the CFTC and the Department of Justice concerning whether Polymarket accepted trades from users located in the United States. According to reports, the FBI carried out a raid at Coplan’s residence during this probe, confiscating electronic devices.

The predictions platform will be under CFTC oversight once it operates in the US. Notably, there is a bill under consideration in Congress that seeks to extend the CFTC’s jurisdiction over digital assets.

Transition in CFTC Leadership

The CFTC’s announcement by acting Chair Caroline Pham comes as the Senate prepares to vote on SEC official Michael Selig’s nomination to become the new chair of the commodities regulator. Members from the Senate Agriculture Committee recently advanced Selig’s nomination along party lines.

However, even with a confirmation, there remain four vacant seats at the CFTC. As it stands, US President Donald Trump has not disclosed any potential successors for the leadership spots at the regulatory body.