Polymarket acquires QCEX for $112M
Polymarket announced that it acquired derivatives exchange QCEX for $112 million on Monday.
The deal allows Polymarket to re-enter the US market, which it left after settling with the CFTC in 2022. The regulator fined the prediction market $1.4 million at the time.
“The transaction marks a significant step toward expanding access to Polymarket’s category-defining platform in the United States, enabling more users than ever to trade prediction market contracts with regulatory clarity and confidence,” a press release announcing the acquisition said.
“Now, with the acquisition of QCEX, we are laying the foundation to bring Polymarket home — re-entering the US as a fully regulated and compliant platform that will allow Americans to trade their opinions,” CEO Shayne Coplan said.