Polymarket Poised to Return to US After CFTC Staff Grants QCX No-Action Relief
The Commodity Futures Trading Commission’s Division of Market Oversight and Division of Clearing and Risk issued a no-action position Sept. 3 allowing QCX LLC and QC Clearing LLC to be exempted, under narrow conditions, from certain swap-related recordkeeping and swap data reporting requirements for event contracts, including binary option and variable payout contract transactions executed on or under QCX’s rules and cleared through QC Clearing.
The staff said it will not recommend enforcement against the entities or their participants for failures to comply with those specific reporting and recordkeeping obligations, noting the relief is limited and comparable to prior no-action letters for similarly situated designated contract markets and derivatives clearing organizations. The move paves the way for predictions market Polymarket—now operating via its acquisition of QCX—to resume offering U.S. event contracts.
