Polymarket, the crypto-powered betting platform, is returning to the U.S. following the drop of a federal investigation. The company acquired QCX, a regulated exchange, for $112 million, allowing it to offer prediction markets to U.S. users under financial oversight.

The investigation into Polymarket by the Justice Department and CFTC has been dropped. The company had settled with the CFTC in 2022, agreeing to block U.S. users, but authorities later probed whether this restriction was violated, leading to a raid on the founder’s home.

Polymarket gained fame during the 2024 U.S. presidential election for its real-time political prediction markets. By acquiring a licensed derivatives platform, the company is positioning itself for growth with legal clarity. The relaunch date for U.S. users has not been announced.

Polymarket is poised for growth after reportedly nearing a $200 million raise at a $1 billion valuation last month. The company’s move to a regulatory-compliant model through the QCX acquisition signals a strategic shift towards providing legal prediction markets to U.S. users.

Read more at Yahoo Finance: Polymarket Returning to U.S. with $112M Acquisition After Prosecutors Drop Probe