Is Polymarket legal? The US app, the 2022 settlement and 2026
Published May 17, 2026 · Last updated: October 1, 2026
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18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See polymarket.com/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
TL;DR
- Yes. US traders can legally use Polymarket through the Polymarket US app, which runs on a CFTC-regulated exchange and clearing organization.
- It's available in 49 states plus D.C. (not Nevada) and trades in US dollars after full identity verification. Several states, including New York, are challenging its sports contracts in court.
- The 2022 CFTC settlement blocked the original, offshore Polymarket for US users; the 2025 QCX acquisition created the regulated US route.
Polymarket US · Deposit $10 get a $25 Trading Bonus!
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Claim on Polymarket US (opens in a new tab)
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See polymarket.com/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
Last checked October 21, 2026
New to this? Read this first
Prediction markets price events in cents, not odds. Here is the vocabulary used on this page, in plain English.
- Price = probability
- A contract that pays $1 trading at 12¢ means the market thinks there's a 12% chance.
- YES / NO share
- YES pays $1 if it happens. NO pays $1 if it doesn't. You can never lose more than you paid.
- Implied chance
- Just the price read as a percentage. A contract at 14¢ implies a 14% chance.
- Vig
- A built-in margin some venues charge. On prediction markets you pay the spread and fees instead.
- Liquidity
- How much money is in the market. More money means you can get in and out at the price you see.
The short answer for US readers: yes. Polymarket is legal in the US through its CFTC-regulated app. The longer answer explains why that wasn't true a few years ago.
The headline
US traders use the Polymarket US app, which runs through a CFTC-regulated exchange and clearing organization. It's available in 49 states plus Washington, D.C. (not Nevada), you fund and trade in dollars, and you verify your identity like on any US exchange.
The US situation
In January 2022, the CFTC fined Polymarket $1.4 million for offering "event-based binary options" without registering as a Designated Contract Market. As part of that settlement, Polymarket agreed to wind down non-compliant markets for US users and to block US users from its offshore platform.
That block still applies to the international site. Don't use a VPN to reach it: it breaks Polymarket's terms, and there's no need now that a regulated US app exists.
What changed in 2024–2026
In November 2024 the FBI executed a search warrant at the home of Polymarket's CEO, reportedly related to allegations that US persons were trading on the platform during the 2024 election. The case did not result in charges against the company.
In 2025 Polymarket acquired QCX, a CFTC-licensed exchange and clearinghouse. That became Polymarket US and Polymarket Clearing, and the regulated Polymarket US app followed. New users can deposit $10 and get a $25 trading bonus with code COLLEGEPM.
State challenges in 2026
Federal regulation has not ended the argument with the states. A Nevada state judge granted an injunction blocking Polymarket US from operating there on May 29, 2026. New York sued Polymarket US on September 24, 2026, alleging it runs an unlicensed gambling operation. Kentucky and Wisconsin have also sued, Tennessee's regulator sent a cease-and-desist letter in January 2026, and the City of Baltimore sued in August 2026. Polymarket has filed its own lawsuit against Massachusetts. None of these cases has produced a final ruling, so what you can trade in a given state may change. The dated record is in the change-log below.
The rest of the world
Outside the US, Polymarket's international site settles in USDC and operates across much of the EU, Latin America, Asia, and Australia. Individual countries have their own gambling and derivatives rules that can apply, so check your local rules.
What this means in practice
If you're in an eligible US state, you can open a Polymarket US account (opens in a new tab). If you're in Nevada, look at Kalshi (opens in a new tab) — same product category, also federally regulated (Kalshi isn't available in Nevada either).
What changed for Polymarket US
CFTC steps, state lawsuits and court orders that name Polymarket or its US exchange. Newest first. Checked against sources on October 1, 2026. This is a record of public events, not legal advice.
September 24, 2026
New York sues Polymarket US in state court
The New York Attorney General and Governor announced a lawsuit against QCX LLC, doing business as Polymarket US, alleging it runs an unlicensed gambling operation. The suit seeks an order stopping it from operating in the state, plus fines, forfeiture of gains and restitution.
Source: New York State Attorney General (opens in a new tab)
September 24, 2026
Polymarket files its own suit against New York
Reported by Sports Betting Dime. Trade press reported that Polymarket filed a countersuit on the same day New York sued it, seeking preliminary and permanent injunctions against enforcement of state gambling laws on its sports event contracts.
September 18, 2026
Missouri Attorney General orders six companies to halt sports event contracts
Reported by CDC Gaming (brief). According to a press brief, the Attorney General sent letters to Polymarket, Kalshi, Crypto.com, Novig, Underdog and Robinhood directing them to stop offering sports event contracts in Missouri. The date shown is the report date.
August 13, 2026
City of Baltimore sues Kalshi and Polymarket
Baltimore filed lawsuits alleging the two companies offer unlicensed sports betting and violate the city's consumer protection ordinance.
June 17, 2026
Kentucky Attorney General sues Kalshi and Polymarket
The Attorney General filed lawsuits in Franklin Circuit Court alleging the two companies offer illegal sports betting in Kentucky.
May 29, 2026
Nevada state judge grants injunction against Polymarket US
First Judicial District Court Judge Jason Woodbury granted the Nevada Gaming Control Board's request for a preliminary injunction blocking Polymarket US from operating in Nevada, with a written order to follow.
May 13, 2026
Polymarket US reported to have removed its waitlist
Reported by Sports Betting Dime. Trade press reported that Polymarket no longer required a waitlist or registration code for U.S. customers, opening its U.S. platform to general sign-ups.
April 28, 2026
CFTC sues Wisconsin over its prediction market lawsuits
The CFTC filed suit against Wisconsin in response to the state's civil actions against Kalshi, Polymarket, Crypto.com, Robinhood and Coinbase.
April 23, 2026
Wisconsin sues five prediction market companies
The Wisconsin Department of Justice announced lawsuits against Kalshi, Robinhood, Coinbase, Polymarket and Crypto.com alleging illegal sports betting, seeking injunctions against them.
February 9, 2026
Polymarket sues Massachusetts
Polymarket filed a lawsuit against the Massachusetts Attorney General seeking declaratory and injunctive relief against enforcement of state gambling laws on its sports event contracts.
January 9, 2026
Tennessee regulator sends cease-and-desist letters to three prediction markets
The Tennessee Sports Wagering Council sent cease-and-desist letters to Kalshi, Polymarket and Crypto.com ordering them to stop offering sports event contracts in the state. Kalshi sued in federal court days later.
December 3, 2025
Polymarket opens its U.S. app to users on its waitlist
Polymarket announced it was rolling out its U.S.-facing, CFTC-regulated prediction market to people on its waitlist, initially with a limited set of sports markets.
November 25, 2025
Polymarket announces CFTC amended order of designation
Polymarket said the CFTC issued an amended order of designation for its U.S. exchange, allowing it to offer intermediated access through brokerages. This is the company's own announcement; the CFTC register lists an amended order for QCX LLC d/b/a Polymarket US.
Source: Polymarket press release (PR Newswire) (opens in a new tab)
September 3, 2025
CFTC staff grants no-action relief to Polymarket-owned exchange QCX
CFTC staff issued a no-action letter on swap data reporting and recordkeeping for event contracts traded on QCX LLC and cleared by QC Clearing LLC. Trade press reported the exchange had been acquired by Polymarket and that the letter cleared the way for its U.S. return.
July 9, 2025
CFTC designates QCX LLC, later operating as Polymarket US
The CFTC register of trading organizations shows QCX LLC as a designated contract market as of July 9, 2025, and notes the exchange now operates under the name Polymarket US.
Source: CFTC Trading Organizations register (QCX LLC d/b/a Polymarket US) (opens in a new tab)
Nothing on this page is legal advice. Prediction-market regulation is actively evolving; check current sources before making decisions.
Sources & further reading
- CFTC Orders Polymarket to Pay $1.4M and Cease Unregistered Event-Based Binary Options (2022) (opens in a new tab)U.S. Commodity Futures Trading Commission (CFTC)
- CFTC: contracts and products (opens in a new tab)CFTC
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Frequently asked questions
Can US residents legally use Polymarket?
Available to eligible residents through the Polymarket US app (as of October 3, 2026); check current state rules. It operates through Polymarket US and Polymarket Clearing, a CFTC-regulated exchange and clearing organization, and is available in 49 states plus D.C. Nevada is not included. Several states, including New York, are challenging its sports event contracts in court; the change-log on this page lists each action. Nothing here is legal advice.
What was the 2022 CFTC settlement?
The CFTC fined Polymarket $1.4 million for operating an unregistered derivatives exchange. As part of the settlement, Polymarket agreed to wind down non-compliant markets for US persons and block US users from its offshore platform.
Is Polymarket legal in the EU?
Polymarket's international site operates in many EU jurisdictions, though individual member states have their own gambling laws that can apply. France in particular has periodically pushed back.
What about the UK?
Polymarket's international site has historically been accessible from the UK but has not pursued UK Gambling Commission licensing. Status can change.
How did Polymarket become legal in the US?
In 2025 Polymarket acquired QCX, a CFTC-licensed exchange and clearinghouse. That became Polymarket US and Polymarket Clearing, which power the regulated Polymarket US app.
What is a prediction market in one sentence?
A prediction market is an exchange where you buy YES or NO contracts on a real-world event; each contract pays $1 if you are right and $0 if you are wrong, so the price is the crowd's probability.
Can I lose more than I put in?
No. On Kalshi and Polymarket the most you can lose on a contract is what you paid for it — there is no margin call or negative balance like a parlay or a leveraged bet.
21+ · T&Cs apply · Terms
18+ Only. Restrictions and eligibility requirements apply. Not available in all jurisdictions. Trading is risky. 100% loss can occur. See polymarket.com/tos for more information. The Polymarket US App serves as an independent software provider and affiliate of Polymarket US and Polymarket Clearing, the CFTC-regulated exchange and clearing organization.
