Polymarket go buy QCEX for $112M to enter US market again
Polymarket don agree to buy QCEX, one CFTC-licensed derivatives exchange, for $112 million to enter US market again. The deal come after Polymarket waka out for 2022 after CFTC warn dem plus DOJ investigation wey end with no charge. With support from Polychain Capital and Placeholder and waiting CFTC approval by Q3 2024, the acquisition go take advantage of QCEX license to join Polymarket decentralized prediction market with one regulated place. Polymarket wan expand on-chain prediction market for US users, make CFTC compliance better, increase liquidity, and make institution dem show interest.
Neutral
Dis acquisition na means say Polymarket dey make strategic move to follow US regulations and start their service again, wey fit improve the platform for long term. But, because no specific token price dey linked to this news, the immediate market impact on any cryptocurrency dey small, so the outlook na neutral.