Polymarket has announced its readiness to re-enter the U.S. market after acquiring the licensed exchange QCX for $112 million, accompanied by an increase in POL token prices.
Polymarket Returns to the U.S. Market
Polymarket, a crypto-betting platform, has announced the purchase of QCX, a licensed derivatives exchange, for $112 million. The deal comes after the closure of U.S. investigations, allowing Polymarket to operate under American regulations. The company had previously been forced to relocate offshore following federal pressure. In 2022, Polymarket agreed to block access for U.S.-based users due to a lack of proper registration.
Polygon Network Developments
The Polygon network has also seen significant developments alongside Polymarket’s return. Sandeep Nailwal, CEO of the Polygon Foundation, shared updates about new enhancements including the Heimdall v2 update aimed at improving transaction stability. Polygon has experienced strong capital inflows in recent months, ranking as the second-highest blockchain network for net inflows.
POL Token Price Increases
Following the deal announcement, the price of the POL token increased by 10%, reaching $0.2586. The asset currently ranks 43rd in market capitalization, standing at $2.69 billion. Trader interest in the token has revived, as demonstrated by increased trading volumes.
The acquisition of QCX not only brings Polymarket back to the U.S. market but also signals growing confidence in the Polygon ecosystem. The completion of the deal opens new horizons for the platform's operations amid regulatory progress, technological upgrades, and the rising value of the token.
