Polymarket Wins CFTC Approval to Operate Intermediated Trading Platform

What Did the CFTC Approve for Polymarket?

Prediction platform Polymarket has secured one of the most consequential approvals in its history later than the U.S. Commodity Futures Trading Commission issued an Amended Order of Designation allowing the company to operate an intermediated trading platform. The approval effectively positions Polymarket under the identical regulatory framework that governs federally regulated U.S. platforms.

According to the company, this designation will enable Polymarket to onboard brokerages, work directly with U.S. clients and facilitate trading on regulated U.S. venues. It marks a significant shift from previous limitations that forced Polymarket to restrict U.S. participation during periods of regulatory scrutiny.

Polymarket founder and CEO Shayne Coplan said the move aligns the company with a more mature, transparent operational model. “This approval allows us to operate in a way that reflects the maturity and transparency that the U.S. regulatory framework demands,” he said.

The regulatory update arrives roughly five months later than the CFTC and the closed a joint investigation into Polymarket’s handling of trades from U.S.-based users. As part of that probe, the FBI reportedly raided Coplan’s residence and seized electronic devices.

Investor Takeaway

How Does This Change Polymarket’s Role in the U.S. Prediction Market Landscape?

Prediction markets have long existed in a regulatory grey area in the United States, with platforms like PredictIt, Kalshi and Polymarket facing varying degrees of enforcement pressure. The CFTC’s new designation for Polymarket places the platform more firmly within the federally regulated category, similar to other intermediated venues that must adhere to stringent oversight requirements.

This includes rules around:

• Customer protection standards such as disclosures, onboarding and suitability checks
• Audit and reporting obligations that match U.S. platform requirements
• Broker-dealer participation enabling intermediaries to onboard users and route orders
• Venue transparency including order book monitoring and data availability

The timing also overlaps with larger policy debates. A market-structure bill progressing through Congress could expand the CFTC’s authority over digital assets, potentially giving the regulator a broader mandate covering both prediction markets and certain crypto derivatives.

For Polymarket, moving into a fully regulated environment offers two practical advantages:

• Legitimacy with institutional partners who previously hesitated due to enforcement risks
• The ability to scale U.S. participation through brokers and intermediaries without breaching compliance boundaries

The approval may also set a precedent for how future prediction .

What Does This Mean for U.S. Market Structure and Crypto Oversight?

The decision comes at a moment of leadership uncertainty within the CFTC. The approval notice was issued under while the U.S. Senate prepares to vote on the nomination of SEC official Michael Selig as the next permanent chair.

Selig’s nomination advanced through the Senate Agriculture Committee along party lines, but the broader commission remains understaffed. Even if confirmed, the CFTC will still have four vacant commissioner seats. As of Tuesday, U.S. President Donald Trump had not announced any new candidates.

This leadership vacuum complicates the regulatory trajectory for prediction markets and crypto derivatives. A more assertive CFTC under new leadership could accelerate oversight, while prolonged vacancies could delay major policy shifts, including the market-structure bill that may expand the agency’s remit.

Meanwhile, prediction markets continue gaining traction among crypto traders, political analysts and financial participants who view them as real-time indicators of sentiment across elections, macro events and market outcomes. With Polymarket receiving approval to run intermediated trading inside the United States, regulated prediction markets may become more accessible and more aligned with traditional financial infrastructure.

Investor Takeaway

What Comes Next for Polymarket?

The platform is now preparing to onboard brokerages and expand its reach in the U.S. market. With regulatory clarity in place, Polymarket can partner with intermediaries, improve customer access and integrate more deeply with the nation’s financial plumbing.

In parallel, ongoing may determine how far the CFTC’s authority ultimately extends. For now, Polymarket has cleared a major hurdle — one that may pave the way for fully regulated prediction markets to become a mainstream component of U.S. financial markets.