Insider: Polymarket Spends $112 Million to Acquire Small Exchange QCX, Reentering the US Market
Foresight News reports, citing multiple sources referenced by Bloomberg, that Polymarket, a crypto betting platform previously forced offshore by federal regulators, has reached an agreement to re-enter the U.S. market. The prediction market plans to acquire a small derivatives exchange called QCX to legally return to the U.S. market.
According to sources, Polymarket will pay approximately $112 million to acquire QCX. The exchange applied for CFTC approval in 2022 and received approval on July 9.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Wall Street's "Great Rotation" Underway: AI Trading Fades, Tech Stocks Out of Favor, Capital Flows Shift to Defensive Sectors
Analysts point out that as investors shift their bets from high-risk technology sectors to defensive stocks, the market is currently in a "state of alert".
Barrick Gold (ABGC.US) applies for U.S. IPO, aiming to raise up to 6 billion dollars
American Barrick Gold has submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC).
Japanese stocks closed up 1.31%
Crypto prices
More
