Polymarket’s Expansion Plans
Polymarket is looking to expand its offerings to U.S. clients by filing for three separate registrations with the National Futures Association (NFA). These applications, submitted by an affiliated entity known as Coming Home GBA LLC on July 3, were processed through PM Derivatives LLC. The specific registrations aim to establish Polymarket as a futures commission merchant, an NFA member, and a swap firm. Bloomberg has previously highlighted Coming Home GBA’s connection to Polymarket.
Potential Benefits of Approval
If approved as a futures commission merchant, Polymarket would be able to facilitate trades where users only need to post a fraction of the total contract’s value initially. Furthermore, in order to offer event contracts with leverage in the U.S. market, the platform would also require a green light from the Commodity Futures Trading Commission (CFTC).
Industry Comparisons
In a notable comparison, rival prediction market Kalshi has already made strides in this area, having gained approval from the NFA in March 2026 for its affiliate, Kinetic Markets LLC, to operate as a registered futures commission merchant and swap firm.
Regulatory Scrutiny and Legal Challenges
Polymarket’s application efforts come amid heightened regulatory scrutiny in the U.S., with reports indicating that the CFTC is investigating various aspects of its operations. This inquiry includes allegations concerning Polymarket’s social media practices, specifically claims that the firm employed content creators to generate promotional videos showcasing simulated trading successes.
Additionally, on the legal front, two users initiated a lawsuit against Polymarket on July 3, challenging the resolution of a market related to whether a certain entity, Strategy, would sell Bitcoin by May 31, 2026. The plaintiffs contend that despite Strategy publicly disclosing the sale of 32 Bitcoins in an SEC filing, Polymarket denied payouts to those who held “Yes” positions. It is alleged that after the outcome was apparent, Polymarket altered the language regarding market clarifications and used the timing of the disclosure rather than the sale itself to conclude the contract as “No.” These allegations remain to be substantiated in court.
New Service Offerings
In a bid to enhance its service offerings, Polymarket has also introduced instant self-custodial Bitcoin deposits via the Lightning Network this week. This cutting-edge payment protocol, provided by Spark, ensures deposits are credited in just seconds while assessing risks associated with double spending, fee levels, and replace-by-fee signals.
