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Analysis · Law and licensing

Is Polymarket legal in the US? What the CFTC, the states and Polymarket's own terms say

Polymarket runs two products. QCX LLC d/b/a Polymarket US is a CFTC-designated contract market, designated on 9 July 2025, open to verified US adults. The international site, polymarket.com, is run by a Panama-law company whose terms bar US persons from trading. Nevada sued all three Polymarket entities in January 2026, Illinois and Missouri ordered Polymarket US to stop offering sports contracts, and New York sued it on 24 September 2026.

Published 2026-10-13By the CryptoGuardz Register Desk6 min read19 sources

Photo: Stephen Harlan / Unsplash

Is Polymarket legal in the US? One version is. QCX LLC d/b/a Polymarket US has been a CFTC-designated contract market since 9 July 2025 and takes verified US adults aged 18 or over. The international site, polymarket.com, is a different company, says it is "not regulated by the CFTC", and its terms bar anyone in the United States from trading. Four states, Nevada, Illinois, Missouri and New York, say Polymarket's sports contracts are unlicensed betting.

Documents read on 13 October 2026: the CFTC's 2022 order and 2025 filings, both sets of Polymarket terms, the Polymarket US rulebook, and the Nevada, Illinois, Missouri and New York enforcement papers. This is not legal advice.

What did the CFTC order against Polymarket in 2022?

A fine and a shutdown of its US-facing markets. On 3 January 2022 the CFTC announced an order against "Delaware-registered Blockratize, Inc. d/b/a Polymarket" for running event-based binary options markets from about June 2020 without being a designated contract market or a swap execution facility.

The order requires that Polymarket pay a $1.4 million civil monetary penalty

CFTC press release 8478-22, 3 January 2022

The same release says the order required Polymarket to "facilitate the resolution (i.e. wind down) of all markets displayed on Polymarket.com" and to "cease and desist from violating the CEA and CFTC regulations, as charged." The release gives no wind-down deadline. The operator name in the order is Blockratize, Inc.; no CFTC document read names a "Blockchain Insights" entity.

Reports in July 2025 said the Justice Department and the CFTC had closed later investigations into Polymarket. Neither agency's own statement was found: not verified.

How did Polymarket get a CFTC licence?

By taking over an exchange that already had one. The CFTC's amended designation order names "QCX LLC d/b/a Polymarket US" and says the Commission designated it "on July 9, 2025". The amendment removes a condition that the exchange "may not permit any futures commission merchant to intermediate any transactions or carry accounts for customers", so brokers can now carry Polymarket US accounts. The amended order's own date was not shown in the text read: not verified.

Clearing sits with a sister company. CFTC Staff Letter 25-28 of 2 September 2025 says "QC Clearing LLC is a registered derivatives clearing organization" and gave QCX and QC Clearing no-action relief from certain reporting rules, including parts 43 and 45. The purchase price and closing date of the QCEX acquisition come from press reports, not from a Polymarket or CFTC document: not verified.

Polymarket US describes itself in its own documentation as "a fiat-based, US-regulated platform operating as a designated contract market (DCM) and derivatives clearing organization (DCO) under CFTC oversight." Sign-up asks for date of birth, legal name, residential address and Social Security number before any deposit.

Polymarket entities and who may use them

Entity	Regulator	Who may use it	Source
Blockratize, Inc. d/b/a Polymarket	CFTC order, 2022	Ordered to wind down US-facing markets	CFTC release 8478-22
QCX LLC d/b/a Polymarket US	CFTC, DCM since 9 Jul 2025	Verified adults 18+, not in a prohibited jurisdiction	Amended designation order; participant agreement v1.4
QC Clearing LLC	CFTC, registered DCO	Clears Polymarket US contracts	CFTC Staff Letter 25-28
Adventure One QSS, Inc. (polymarket.com)	Not CFTC-regulated, Panama law	Non-restricted persons; US persons may not trade	Polymarket.com terms, 11 Aug 2026

Can US residents use polymarket.com?

No. The international terms, effective 11 August 2026, are with Adventure One QSS, Inc., governed by "the Panama Arbitration Law and the laws of Panama". The clause on US persons, verbatim and in its original capitals:

USE OF THE SITE, PLATFORM OR TECHNOLOGY FEATURES FOR TRADING IS NOT PERMITTED BY PERSONS OR ENTITIES WHO RESIDE IN, ARE LOCATED IN, ARE INCORPORATED IN, HAVE A REGISTERED OFFICE IN, OR HAVE THEIR PRINCIPAL PLACE OF BUSINESS IN THE UNITED STATES OF AMERICA, ALBERTA, AUSTRALIA, BELGIUM, BRITISH COLUMBIA, FRANCE, GERMANY, HUNGARY, IRELAND, ITALY, ONTARIO, POLAND, QUEBEC, RUSSIA, SINGAPORE, SLOVAKIA, SLOVENIA, TAIWAN, THAILAND, THE NETHERLANDS, NEW ZEALAND, THE UNITED KINGDOM, OR ANY OTHER RESTRICTED TERRITORY AS DEFINED BELOW (ANY SUCH PERSON OR ENTITY FROM THESE JURISDICTIONS, A "RESTRICTED PERSON").

Polymarket.com Terms of Use, effective 11 August 2026

A padlock and chain closing a metal gate — Illustration only: a locked gate. The international site and the US exchange are separate entities with separate eligibility rules. Photo: Jose Fontano / Unsplash

The next paragraph covers VPNs:

USE OF A VIRTUAL PRIVATE NETWORK ("VPN") OR ANY SIMILAR TOOL TO ATTEMPT TO OR TO CIRCUMVENT THE RESTRICTIONS SET FORTH HEREIN IS STRICTLY PROHIBITED. ANY PERSON IN VIOLATION OF THESE TERMS MAY HAVE THEIR WALLETS PLACED IN CLOSE-ONLY MODE AND BE PROHIBITED FROM ACCESSING THE TECHNOLOGY FEATURES IN OUR SOLE DISCRETION.

Polymarket.com Terms of Use, effective 11 August 2026

The site's own terms page says it plainly: "Trading is blocked in the United States on polymarket.com." Polymarket's two published lists do not agree on how hard the block is. The developer geoblock page puts the United States under "Close-Only", where existing positions can be closed but no new ones opened. The help centre article, updated 14 August 2026, lists the US among "39 countries" that "are completely restricted". A US user with an old position should read both before assuming access.

Which states is Polymarket US available in?

Polymarket US does not publish a state list in any document read on 13 October 2026. Its documentation, rulebook dated 30 September 2026 and participant agreement contain no list of permitted or excluded states: not verified. The participant agreement instead makes each user warrant:

You are not domiciled, a resident of, or located in any jurisdiction in which access to, use of, or trading on the System is prohibited under Applicable Law or by PMUS policy.

Polymarket US Individual Participant and Clearing Member Agreement, version 1.4, section II.8

The same section lets Polymarket US "update the jurisdictions covered by this Section II.8, without notice to you" and "block or terminate access accordingly." State coverage can change without a published notice.

Is Polymarket legal in the US under state gambling law?

Four states say its sports contracts are not. Their documents:

Nevada. On 16 January 2026 the Gaming Control Board sued "BLOCKRATIZE, INC. d/b/a POLYMARKET; QCX LLC d/b/a POLYMARKET US; and ADVENTURE ONE QSS, INC. d/b/a POLYMARKET" in the District Court for Carson City, seeking "a declaration and injunction to stop Polymarket from offering unlicensed wagering". The Board's index lists a temporary restraining order on 29 January 2026. Polymarket moved the case to federal court; on 2 March 2026 the federal order in No. 3:26-cv-00089 said "the Board's motion to remand to state court (ECF No. 7) is granted." The Board filed a renewed preliminary injunction motion on 8 April 2026. The text of the restraining order and any ruling on that motion were not read: not verified.
Illinois. On 27 January 2026 the Gaming Board wrote to "QCX LLC d/b/a Polymarket US" under the Sports Wagering Act, 230 ILCS 45: "Polymarket and anyone affiliated with its operations are directed to cease and desist this illegal activity." No deadline is given.
Missouri. On 16 September 2026 the Attorney General wrote to QCX Limited Liability Company, which it calls Polymarket: it must cease and desist or obtain a Missouri Gaming Commission licence, pay state taxes and fees and "stop offering sports wagering to persons in the State of Missouri under the age of 21."
New York. On 24 September 2026 the Attorney General sued "QCX LLC d/b/a Polymarket US (Polymarket)", alleging its markets "meet the legal definition of gambling" and are open to users aged 18 to 20.

Press reports also describe cease and desist letters from Tennessee and Ohio. The letters themselves were not found on those regulators' sites: not verified.

Polymarket US faces the same federal preemption fight as Kalshi, where federal appeals courts have split and New Jersey has asked the Supreme Court to rule in Flaherty v. KalshiEX, No. 26-299. The court-by-court record is in Is Kalshi gambling? What the law says. The fee and market differences between the two exchanges are in Polymarket vs Kalshi, and the tax side in Kalshi and Polymarket taxes. State-by-state regulator positions on online gambling are in the US state guide, for example Nevada and Illinois.

Quick answers

Is Polymarket legal in the US?

Polymarket US, run by QCX LLC, has been a CFTC-designated contract market since 9 July 2025. Nevada, Illinois, Missouri and New York say its sports contracts need a state licence. The Kalshi post covers the same federal-versus-state fight.

Is polymarket.com legal for Americans?

Its terms, effective 11 August 2026, say trading is "NOT PERMITTED" for people in the United States, and VPN use can put a wallet in close-only mode. The site says it is not regulated by the CFTC.

Why was Polymarket fined?

On 3 January 2022 the CFTC ordered Blockratize, Inc. d/b/a Polymarket to pay $1.4 million for offering event-based binary options without being a registered or designated venue, and to wind down its markets.

How old do you have to be to use Polymarket US?

At least 18 and at the age of majority in your state, per section II of the participant agreement, version 1.4. KYC with a Social Security number comes before any deposit.

Where can I get help with gambling in the US?

The National Problem Gambling Helpline is 1-800-MY-RESET (1-800-697-3738), with call, text and chat. More options are on the responsible gambling page.

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Sources

About this piece

Compiled by the CryptoGuardz register team from the sources listed above. Research and drafting are AI-assisted and reviewed by a named editor before publication. Nothing here is a recommendation to gamble. If a figure or a reading is wrong, tell us and the correction is logged in public.