Polymarket acquires the licensed exchange QCEX and considers the issuance of its own stablecoin, laying out a strategy for the US market and stablecoins.

The encryption prediction market platform Polymarket is enhancing its compliance operations in the U.S. market and seeking to gain more market share by acquiring the licensed exchange QCEX and considering the issuance of its own stablecoin. At the same time, the platform is also looking to control the interest reserves on its platform by launching a stablecoin to better capture revenue related to stablecoins.

Polymarket's acquisition of QCEX paves the way for a return to the US market

Polymarket recently announced the acquisition of the Florida-based derivatives exchange QCX and its affiliated clearinghouse QC Clearing (collectively referred to as QCEX) for $112 million, marking a strategic breakthrough for Polymarket's re-entry into the U.S. market. Polymarket's founder and CEO Shayne Coplan stated that the acquisition of QCEX provides critical infrastructure for the platform's compliant operations in the U.S.

Although Polymarket has attracted around $6 billion in global trading volume this year, its services have been closed to U.S. users since 2022. By acquiring QCEX, Polymarket has obtained a license to operate legally in the U.S., allowing it to provide contract trading services legally within the country. U.S. regulators have clearly stated that prediction market platforms must operate on licensed platforms to gain approval, and QCEX has provided this compliance pathway for Polymarket.

Cooperation and Development Prospects with X Platform

Polymarket announced a partnership with Musk's X platform this June, where X's Grok chatbot will provide users with data-driven "contextual" insights. This collaboration not only brings new growth opportunities for Polymarket but also further deepens its layout in the U.S. market.

Polymarket considers the issuance of its own stablecoin

At the same time, Polymarket is considering the issuance of its own stablecoin to control the interest income generated from funds stored on the platform. According to informed sources, Polymarket is evaluating two paths: launching a proprietary stablecoin for internal use, or reaching a revenue-sharing agreement with USDC issuer Circle.

Considering that Polymarket operates as a closed-loop system, where users only trade stablecoins within the platform, introducing a local dollar-pegged token will require minimal infrastructure changes. Users can easily convert their existing USDC or USDT into the platform's new stablecoin to maintain liquidity and reserve earnings within the platform.

Improvement of stablecoin regulatory environment

The United States recently passed federal legislation on stablecoins, providing a legal framework for stablecoin issuers. This move has created a more favorable regulatory environment for platforms like Polymarket to issue stablecoins. Circle is also seeking revenue sharing with partners, further intensifying competition in the stablecoin market.

Future Outlook

By acquiring QCEX and potentially launching its own stablecoin, Polymarket can not only restore and expand its business in the US market but also secure a place in the growing stablecoin market. With the improvement of the regulatory environment and the increasing demand for capturing revenue within the platform, Polymarket's future development prospects are promising.