Polymarket

Exchange · Polymarket (domiciled in Panama) · New York, New York (legal domicile Panama)[1]

Founded June 2020 by Shayne Coplan (CEO, majority owner). Jan 2022 CFTC settlement: $1.4M fine and cease-and-desist order (failure to register as a Swap Execution Facility); blocked US customers 2022-Dec 2, 2025 under that settlement. CFTC/DOJ ended their probe July 2025; Polymarket then acquired QCEX, a CFTC-licensed derivatives exchange/clearinghouse, for $112M, and received an Amended Order of Designation from the CFTC in Nov 2025, enabling US re-entry. Intercontinental Exchange (ICE) agreed to invest up to $2B (Oct 2025); valuation reported at $8-9B, reaching $9B by Feb 2026. Nevada and other states have since challenged its US operations in court; Minnesota's prediction-market ban took effect Aug 1, 2026.

Subsidiaries: QCEX

Brands

Polymarket — Prediction markets

Regulatory actions

Date	State	Action	Amount	What happened
Jun 17, 2026	Kentucky	Lawsuit Prediction markets		Kentucky Attorney General Russell Coleman sued Polymarket in Franklin Circuit Court, alleging its website, app, and advertising offer unlicensed sports wagering disguised as "event contracts," in violation of Kentucky's Consumer Protection Act, Loss Recovery Act, and gambling laws.[2]

Sources

Polymarket · retrieved Oct 10, 2026
Attorney General Coleman Launches Three Lawsuits Against Illegal Gambling Companies · retrieved Oct 11, 2026
The Kalshi complaint itself (Commonwealth of Kentucky ex rel. Attorney General Russell Coleman v. KalshiEX LLC et al., Franklin Circuit Court, filed and dated June 17, 2026, hosted at dicellolevitt.com) was also read directly and corroborates the filing date, parties, and core allegation that Kalshi's "event contracts" are unlicensed sports wagering under KRS 231.210(32).