The prediction market Polymarket has received CFTC approval to return to the U.S. market

ChainCatcher news, according to Decrypt, predicts that Polymarket CEO Shayne Coplan stated on Wednesday that the company has received approval from the CFTC to resume operations in the U.S. after being fined for allegedly violating existing regulations and being forced to relocate overseas for many years.

The CFTC announced today in a statement that it will not take enforcement action against Polymarket regarding its acquisition of the regulated derivatives exchange QCX in July, and it has exempted the company from certain record-keeping and data reporting requirements. Minutes after the statement was released, Coplan indicated that this no-action letter effectively allows Polymarket to operate in the U.S. under QCX's license.