“Polymarket previously announced it would launch a token and had acquired a CFTC-registered entity.”, — write: www.coindesk.com
Trading would begin with limited user access and a focus initially on sports-related markets. Polymarket officially shut off US access in 2022 after settling charges with the Commodity Futures Trading Commission (CFTC), which fined the company $1.4 million for running an unregistered derivatives platform and had it agree to block US-based users.
Since the settlement, it’s operated offshore while continuing to build its user base with crypto-based prediction markets ranging from elections to celebrity trials. Individuals in the US were still able to place bets on Polymarket through the use of virtual private networks.
Earlier this year, Polymarket acquired QCX, a firm with both exchange and clearinghouse licenses from the CFTC. That acquisition gives it a path to operate legally in the US — a critical pivot after federal investigations from both the CFTC and the Justice Department were closed.
Unlike competitors such as Kalshi or the recently announced Truth Social prediction platform from Trump Media, Polymarket runs entirely on blockchain infrastructure and uses crypto — primarily stablecoins — for trading. Its planned native token would tie platform growth directly to the crypto ecosystem, although details on its function or regulatory structure have not been released.
Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent.
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Tether’s gold-backed token swelled above $2 billion market cap, driven by record prices and surging retail demand, CEO Paolo Ardoino said in an interview.
- Tether’s tokenized gold XAUT was backed by 375,000 ounces of physical bars held in Switzerland as of the end of September, the company said.
- The market cap of Tether Gold soared to $2.1 billion as of October, driven by rising gold prices and demand from retail investors in emerging markets.
- Tokenized gold allows investors to hold a blockchain-based representation of gold without the complexities of physical storage.
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