On July 21, 2025, it was reported that Polymarket, the popular decentralized prediction market, acquired QCX for $112 million. This marked Polymarket's entry into the US market after being restricted since 2022.
Polymarket and QCX Deal
The acquisition of QCX allows Polymarket to legally re-enter the US market after restrictions imposed by the Commodity Futures Trading Commission (CFTC). Polymarket's Founder and CEO, Shayne Coplan, mentioned, “Polymarket is the largest prediction market globally and has become synonymous with understanding the probability of current events.”
Expansion of Polymarket's Capabilities
Polymarket aims to expand beyond prediction and betting services, exploring decentralized finance innovations such as liquidity pools and automated market makers. The platform seeks to diversify its offerings, including sports and economic predictions.
Popularity Growth During Elections
Polymarket gained significant popularity during the 2024 US presidential elections, reaching $3 billion in trading volume on election predictions. However, the platform faced allegations of odds manipulation. While investigations found no malicious intent, the situation drew attention and increased interest in the platform.
The acquisition of QCX marks a new phase for Polymarket, opening up new opportunities for regulatory compliance and expansion in the US market. The platform's growth during the elections also highlights its significance in the prediction landscape.
