Polymarket is taking another step toward expanding its services in the United States after filing three registration applications with the National Futures Association (NFA), a move that could eventually allow the platform to offer margin trading to U.S. users.
According to records in the NFA’s BASIC database, Polymarket-affiliated company Coming Home GBA LLC submitted the applications through PM Derivatives LLC on July 3.
The company is seeking registration as a futures commission merchant (FCM), an NFA member, and a swap firm. If approved, these registrations would move Polymarket closer to offering leveraged trading products in the U.S. market.
A futures commission merchant license would allow users to trade contracts by putting up only a portion of the total value upfront, rather than paying the full amount. However, Polymarket would still need approval from the U.S. Commodity Futures Trading Commission (CFTC) before it could launch leveraged event contracts for American customers.
The move follows a similar path taken by rival prediction market platform Kalshi. Earlier this year, Kalshi affiliate Kinetic Markets LLC received approval as a registered futures commission merchant and swap firm, according to NFA records.
While Polymarket works toward expanding its U.S. presence, the company is also facing increased regulatory scrutiny.
Reports indicate that the CFTC is examining several aspects of Polymarket’s operations, including its social media marketing practices. One area of focus reportedly involves allegations that content creators were paid to publish promotional videos showing simulated trades and fabricated profits. Polymarket has not publicly responded to these claims.
The company is also dealing with a legal challenge in New York.
On July 3, two users filed a lawsuit related to a prediction market that asked whether Strategy would sell Bitcoin before May 31, 2026. The plaintiffs claim that holders of “Yes” positions were denied payouts despite Strategy later disclosing the sale of 32 Bitcoin in a filing with the U.S. Securities and Exchange Commission (SEC).
According to the complaint, Polymarket allegedly modified clarification language related to the market after the outcome and based its final decision on the timing of the disclosure rather than the sale itself. The allegations remain unproven and have not been tested in court.
Despite these legal and regulatory challenges, Polymarket continues to develop new features for its platform.
This week, the company introduced instant self-custodial Bitcoin deposits through the Lightning Network. The integration, powered by payment protocol Spark, allows users to fund accounts within seconds while automatically checking factors such as double-spend risks, transaction fees, and replace-by-fee signals before confirming deposits.
As Polymarket pursues regulatory approvals and expands its product offerings, the company appears focused on strengthening its position in the growing prediction market industry while navigating increasing oversight from U.S. regulators.
