Polymarket Opens US Site to All Users After CFTC Clearance and Trump-Era Probe Closure
Updated
Updated · CNN · May 15
Polymarket Opens US Site to All Users After CFTC Clearance and Trump-Era Probe Closure
3 articles · Updated · CNN · May 15
Polymarket this week dropped the invite-only gate on its US website, making its federally approved prediction markets broadly available after last year’s CFTC clearance.
That rollout followed two key shifts under the Trump administration: officials ended a criminal investigation opened under Biden, and the CFTC approved Polymarket to offer US exchanges and markets.
Until now, the platform’s most controversial trading — including Venezuela and Iran-related bets — largely occurred on its offshore Panama-based site, which Americans are barred from using but can access via VPNs.
The expansion lands as more than 40 states argue prediction markets are gambling, while the CFTC says it is cracking down on insider trading after charging a special operations soldier over $400,000 in alleged profits.
The fight is widening beyond Polymarket, with the administration backing the industry, the Trump family tied financially to major players, and bipartisan lawmakers pushing new limits that could reach the Supreme Court.
Are prediction markets an innovative financial tool or just a new, high-stakes form of illegal gambling?
Can a shrinking federal agency effectively police a global industry that monetizes real-world events?
When secret information becomes a jackpot, how can we stop insiders from rigging real-world events?
Polymarket’s Grand Reopening: $1.6B Investment, CFTC Approval, and the Battle Over Prediction Markets in America
Overview
Polymarket has officially re-entered the U.S. market after acquiring futures commission merchant (FCM) status, which now allows it to legally offer event contracts in the United States. Previously, many U.S. users accessed the platform through VPNs to hide their locations, but with its new regulatory standing, Polymarket is rolling out its U.S. application to people on its waitlist. To join, users must provide a phone number to secure their spot and receive notifications for access. This marks a significant step for Polymarket, making its prediction markets more accessible and compliant with U.S. regulations.