Insider: Polymarket Spends $112 Million to Acquire Small Exchange QCX, Reentering the US Market
Foresight News reports, citing multiple sources referenced by Bloomberg, that Polymarket, a crypto betting platform previously forced offshore by federal regulators, has reached an agreement to re-enter the U.S. market. The prediction market plans to acquire a small derivatives exchange called QCX to legally return to the U.S. market.
According to sources, Polymarket will pay approximately $112 million to acquire QCX. The exchange applied for CFTC approval in 2022 and received approval on July 9.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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