Polymarket Seeks US Return With Futures Broker License Application
Summary
- Polymarket said Coming Home GBA, its US affiliate, had applied to the National Futures Association (NFA) for a Futures Commission Merchant (FCM) license.
- Obtaining the license would allow the company to offer margin trading services to US users, though additional approval from the Commodity Futures Trading Commission (CFTC) would still be required.
- Polymarket has also begun a publicity campaign to support its return to the US market and rebuild trust, after paying a $1.4 million settlement to the CFTC in 2022 over unregistered event-based derivatives.
Forecast Trend Report by Period
Polymarket has started the process to offer margin trading to US users.
CoinDesk reported on July 10 that Coming Home GBA, Polymarket’s US affiliate, applied to the National Futures Association for a Futures Commission Merchant, or FCM, license. If approved, the license would let users open positions without depositing the full value of a trade upfront.
Polymarket would still need additional approval from the Commodity Futures Trading Commission before launching the service. Current rules require positions to be fully collateralized, so the CFTC would also need to approve a rule change to allow margin trading.
Rival Kalshi received CFTC approval in March and began offering margin trading services in the US.
The move signals a broader push by Polymarket to return to the US market. On July 9, the company began a publicity campaign aimed at rebuilding trust with policymakers, regulators and potential users. Polymarket agreed to pay a $1.4 million settlement to the CFTC in 2022 over allegations that it offered unregistered event-based derivatives, and it stopped serving US users.
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