Insider: Polymarket Spends $112 Million to Acquire Small Exchange QCX, Reentering the US Market

Foresight News reports, citing multiple sources referenced by Bloomberg, that Polymarket, a crypto betting platform previously forced offshore by federal regulators, has reached an agreement to re-enter the U.S. market. The prediction market plans to acquire a small derivatives exchange called QCX to legally return to the U.S. market.

According to sources, Polymarket will pay approximately $112 million to acquire QCX. The exchange applied for CFTC approval in 2022 and received approval on July 9.