Polymarket seeks U.S. futures license to offer margin trading

Polymarket has applied for a U.S. futures commission merchant license through affiliate Coming Home GBA LLC, a step that could eventually let U.S. users trade prediction contracts on margin rather than fully collateralizing every position. National Futures Association records show the application was submitted on July 3. Approval would give Polymarket the brokerage framework needed to hold customer funds and manage margin, but the company would still need the Commodity Futures Trading Commission to revise or approve rules allowing margined event contracts. The filing extends Polymarket’s broader return to the U.S. market after years of regulatory friction. The platform paid a $1.4 million fine to the CFTC in 2022 over operating an unregistered trading facility, and U.S. users were barred. In 2025, investigations by the CFTC and the Department of Justice were resolved, and Polymarket later acquired QCEX for $112 million, gaining access to a CFTC-regulated Designated Contract Market license that underpins Polymarket US. Margin capability is emerging as a key competitive battleground in regulated prediction markets because it can improve capital efficiency, support tighter liquidity and make the products more comparable to other leveraged financial markets. Rival Kalshi has also pursued the functionality, including through its affiliate Kinetic Markets LLC, which secured a futures commission merchant license earlier this year.