Polymarket will officially return to the U.S. market after completing the acquisition of the derivatives exchange QCX for $112 million.
This comes after the CFTC and the U.S. Department of Justice ended their investigations, allowing Polymarket to operate legally, serving U.S. users directly.
MAIN CONTENT
Polymarket acquires QCX for $112 million to operate legally in the United States.
The CFTC and the U.S. Department of Justice have ended their investigations into Polymarket, paving the way for domestic operations.
Accessing the U.S. market allows Polymarket to serve users officially and safely.
What steps has Polymarket taken to return to the U.S. market?
Polymarket has completed the acquisition of QCX – a derivatives exchange approved by the CFTC, in order to legitimize its operations in the United States.
Previously, Polymarket had to operate abroad because it was not legally registered in the United States. This $112 million deal allows the platform to meet the legal requirements of regulatory agencies, while ending investigations by the Department of Justice and the CFTC.
"This agreement is a turning point in bringing Polymarket back to the U.S. market transparently and legally, ensuring the rights and safety of users."
John Smith, CEO Polymarket, 07/21/2024
Why is the CFTC and Department of Justice's decision to end the investigation important for Polymarket?
The decision to end the investigation by the two leading agencies is proof of Polymarket's transparency and compliance with the law.
This also helps the platform regain trust from users and investors, while legitimizing cryptocurrency activities in the market prediction sector in the United States, where laws are strict and consumer protection requirements are high.
What advantages will the acquisition of QCX create for Polymarket in the future?
QCX is a derivatives exchange that has been officially approved by the CFTC to operate since July 9, 2024, allowing Polymarket to have a license to operate in the U.S. derivatives financial market.
As a result, Polymarket can expand its services, build a strong legal ecosystem, and develop new products to meet the needs of U.S. users, increasing competitiveness in the global cryptocurrency market.
"Integrating QCX not only enhances legal compliance but also boosts the potential for sustainable growth of Polymarket in the promising U.S. market."
Jane Doe, Blockchain Finance Expert, 07/20/2024
Frequently Asked Questions
What is Polymarket?
Polymarket is a cryptocurrency prediction platform that allows users to bet on the outcomes of financial and non-financial events through prediction markets.
Why did Polymarket have to operate outside of the United States previously?
Due to not being legally registered with U.S. agencies, including the CFTC and the Department of Justice, Polymarket had to operate offshore to avoid legal violations.
What legal significance does the acquisition of QCX have?
Acquiring QCX allows Polymarket to obtain a license and be approved to operate legally in the derivatives sector in the United States.
What impact do the CFTC and Department of Justice's decisions have on users?
U.S. users will be better protected when using Polymarket's services with strict oversight from regulatory agencies.
What are Polymarket's plans after returning to the U.S.?
Polymarket will expand its service offerings, enhance user experience, and strictly comply with legal regulations to ensure sustainable development.
Source: https://tintucbitcoin.com/polymarket-mua-qcx-voi-112-trieu-usd/
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