Prediction platform Polymarket has received regulatory approval from the US Commodity Futures Trading Commission to operate an intermediated trading platform.

In a Tuesday notice, Polymarket said the CFTC issued an Amended Order of Designation, which will allow the company to “operate an intermediated trading platform subject to the full set of requirements applicable to federally regulated US exchanges.”

As Bitcoin Magazine's Micah Zimmerman reports, the move enables the market to onboard brokerages and customers directly. Users can now trade through futures commission merchants (FCMs) and access traditional custody, reporting, and market infrastructure.

“People rely on Polymarket because we provide clarity where there is confusion,” said Shayne Coplan, the founder and CEO of Polymarket.

“This approval lets us operate with the maturity and transparency the U.S. regulatory framework demands. We’re grateful for the constructive engagement with the CFTC and look forward to leading as a regulated exchange.”

Polymarket has upgraded its systems in line with the new order. It now has enhanced surveillance, market supervision policies, clearing procedures, and Part 16 regulatory reporting. 

Additional rules and processes for intermediated trading will be implemented before the official launch.

Polymarket remains subject to the Commodity Exchange Act and CFTC regulations, including self-regulatory obligations.

Polymarket was barred in 2022 for running an unregistered derivatives exchange but has returned to the U.S. after acquiring QCX, a regulated contract market and clearinghouse.

CFTC leadership in flux

The CFTC notice under acting chair Caroline Pham came as the US Senate is expected to soon vote on the nomination of SEC official Michael Selig as the next chair of the commodities regulator. Lawmakers in the Senate Agriculture Committee voted along party lines to advance Selig’s nomination. 

Even if Selig were to be confirmed, the CFTC would continue to have four empty commissioner seats. As of Tuesday, US President Donald Trump had not announced any potential replacements for the regulator’s leadership.

Polymarket now accepts bitcoin

Earlier this year, the platform also announced support for direct bitcoin deposits. Users can now fund accounts with BTC alongside stablecoins like USDC, USDT, and other crypto. 

In other news, Intercontinental Exchange (ICE), owner of the New York Stock Exchange, is considering a $2 billion investment in Polymarket. The deal could value the platform between $8 billion and $10 billion, according to The Wall Street Journal.

In October, the company was reportedly exploring a funding round at a $12–15 billion valuation.

Shayne Coplan, 27, has become the youngest self-made billionaire following the investment. Just a few years ago, he was an NYU dropout building the company from his bathroom. 

The platform has also drawn investors such as 1789 Capital, backed by Donald Trump Jr., and acquired derivatives exchange QCEX for $112 million, gaining a CFTC license in the process.

One of it’s competitors, Kalshi, another major prediction market accepting bitcoin, recently raised $300 million at a $5 billion valuation and plans to expand access to over 140 countries, with annualized trading volume soaring toward $50 billion.