Polymarket Acquires Derivatives Exchange QCEX for $112M to Expand US Footprint

Decentralized prediction market Polymarket has acquired Florida-based derivatives exchange QCX and its affiliated clearinghouse QC Clearing — together known as QCEX, for $112 million.

The announcement comes just days after US regulators ended their investigation into Polymarket, clearing a major obstacle for the company’s US ambitions.

The purchase “marks a significant step toward expanding” Polymarket into the U.S., said founder and CEO Shayne Coplan.

Polymarket Thrives Globally Despite US Ban Since 2022

Polymarket has remained officially closed to U.S. users since 2022 but has seen explosive growth overseas.

In the first half of 2025 alone, users wagered roughly $6 billion on everything from political races to cultural moments and sports events.

The platform gained prominence during the 2024 U.S. presidential election cycle.

The company’s path to U.S. compliance was complicated by scrutiny from the Commodity Futures Trading Commission and the Department of Justice, which launched a joint investigation following Donald Trump’s re-election.

The FBI raided Coplan’s home in November, but earlier this month, Coplan confirmed that the inquiry had been closed.

With the acquisition of QCEX, which only received its license to operate as a designated contract market earlier this month, Polymarket now has a regulated foothold that could enable it to offer compliant prediction contracts in the U.S.

Polymarket has acquired QCEX, a CFTC-regulated exchange and clearinghouse, for $112 million.

This paves the way for us to welcome American traders again.

I've waited a long time to say this:

Polymarket is coming home 🇺🇸🦅 pic.twitter.com/Qjd5ZbUwKi

— Shayne Coplan 🦅 (@shayne_coplan) July 21, 2025

“The acquisition of QCX was laying the foundation to bring Polymarket home — re-entering the U.S. as a fully regulated and compliant platform that will allow Americans to trade their opinions,” Coplan said on Monday.

“Shayne has built a cultural phenomenon in Polymarket,” QCEX founder Sergei Dobrovolskii added.

“I am excited to bring our companies together and leverage our licences, technology, and expertise in the retail trading sector to help Polymarket reach its full potential.”

The deal comes amid growing regulatory openness toward prediction markets.

Kalshi, a rival platform, won a court ruling last year allowing betting on political outcomes.

Polymarket Nears Unicorn Status With $200M Raise

As reported, Polymarket is close to securing a $200 million funding round led by Peter Thiel’s Founders Fund, valuing the crypto-based prediction platform at $1 billion.

Despite being banned in the US, Polymarket’s user base and market activity have surged, with over 21,000 open markets and $700 million in active trading volume.

The platform recently partnered with Elon Musk’s X to integrate prediction markets with Grok, X’s AI chatbot, boosting its visibility amid ongoing regulatory hurdles.

Polymarket has seen explosive growth since the 2024 U.S. election, hitting a $2.5 billion trading peak in November, but it remains restricted in several countries and faces criticism over potential market manipulation.