The Basic Products Future Commission (CFTC) granted the regulatory approval for the Polymket Prediction Platform to resume the operations of the United States through a letter of non -action issued to QCX LLC on September 3.
The CFTC market supervision division and the compensation and risk division announced that they will not seek compliance actions against QCX LLC or QC Clearing LLC with respect to exchange data reports and record maintenance requirements for event contracts.
Regulatory green light
The letter applies only to close circumstances and reflects a similar regulatory relief granted to other designated contract markets.
The approval allows Polymket to operate event contracts while maintaining compliance with federal derivative regulations through its QCX association structure.
The Polymket CEO, Shayne Coplan, celebrated the development in social networks, accrediting the commission for the “impressive work” and pointing out that the process was completed in “registration time.”
Coplan indicated that the US operations would soon be released, publishing “be attentive” to their announcement.
The regulatory green light marks a return for Polymket, which ceased the operations of the United States in 2022 after the CFTC settlement on the trade of unregistered derivatives.
The platform paid $ 1.4 million to solve those positions and US users blocked to access their prediction markets.
Polymarket accelerated its efforts for a return from the USA. In July, when the United States Department of Justice and the CFTC concluded the investigation of the prediction market. Less than a week later, Polymarket acquired QCX in a $ 112 million agreement.
On August 26, Donald Trump Jr. joined the Polymket Advisory Board in the middle of an unleashed investment of his Risk Capital Company 1789 Capital.
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Oracle’s validation concerns persist
Despite regulatory approval, recent disputes caused new debates on market resolution mechanisms.
More recently, a social media user with the nickname Easy shared a September 2 dispute on a prediction of purchase of Bitcoin strategy that presented ambiguities in the formulation of bets and the Validation processes of Oracle.
Meanwhile, other user complaints in recent weeks and months have focused on a market related to whether the strategy acquired bitcoin between specific dates.
Although the company confirms purchases within the deadline, the market resolution remained uncertain due to the drafting discrepancies between the market title and the underlying rules.
However, commentators argued that the platform adhered to the rules written instead of market titles, noting that such practices maintain the consistency in prediction markets since January.
The recent debate adds to the pile of discussions on how Polymeket needs UMA oracles to validate the results and how UMA holders can manipulate decisions.
Tokens headlines must bet on UMA to decide the results. However, if they do not vote according to the majority, they lose their chips. This dynamic creates an imbalance of power towards Uma whales.
Despite the controversies, the return of Polymarket positions the platform to compete in the growing sector of the United States Prediction market, where the political and economic prognosis has obtained general adoption.