Polymarket to Acquire QCEX for $112M to Reenter US Market

Polymarket has agreed to acquire QCEX, a CFTC-licensed derivatives exchange, for $112 million to reenter the US market. The deal follows Polymarket’s 2022 exit after a CFTC warning and a DOJ probe that concluded with no charges. Backed by Polychain Capital and Placeholder and pending CFTC approval by Q3 2024, the acquisition leverages QCEX’s license to integrate Polymarket’s decentralized prediction market with a regulated venue. Polymarket aims to expand on-chain prediction markets for US users, enhance CFTC compliance, boost liquidity, and attract institutional participation.