Polymarket Set to Reenter US After $112M Acquisition of QCEX

Online betting platform Polymarket said it acquired QCEX, US-licensed derivatives exchange and clearinghouse for $112 million, paving the way for the company’s return to the United States after a hiatus of more than two years.

According to its website, QCEX is based in Boca Raton, Florida, with both entities, the derivatives exchange and the clearinghouse, under the oversight of the Commodity and Futures Trading Commission (CFTC).

Polymarket is a decentralized prediction market platform that lets users trade on the outcomes of real-world events, such…