Polymarket, a popular prediction betting site, is making a comeback in the U.S. after acquiring a derivatives exchange. The site faced investigations from the Justice Department and CFTC but has now reopened with regulatory approval. Users can now access Polymarket in the U.S. for various betting opportunities.

Polymarket recently purchased QCX, a licensed derivatives exchange, and QC Clearing for $112 million to facilitate its re-entry into the U.S. market. The acquisition will allow U.S. users to engage in prediction betting on the platform. QCX received regulatory approval to operate on July 9, paving the way for Polymarket’s return.

The site ceased operations in the U.S. due to a lack of license and concerns of market manipulation, following an investigation by the Justice Department and CFTC. The settlement with the regulatory bodies led to the reopening of the U.S. market for Polymarket, now operating under compliance regulations.

Founder and CEO Shayne Coplan stated that the demand for Polymarket has increased, with mainstream audiences turning to the platform for unbiased information. With the acquisition of QCEX, Polymarket aims to provide fully regulated and compliant services for American users to trade their opinions on various events.

Despite previous regulatory challenges, Polymarket has continued to grow its user base internationally, with some U.S. users finding ways to bypass geoblocking measures to engage in prediction betting. The site’s popularity has increased, leading to its re-entry into the U.S. market with a focus on compliance and regulation.

Read more at Yahoo Finance: Polymarket says it is returning to the U.S. ‘in the near future’