Polymarket got the regulatory thumbs-up to return to American soil after a three-year timeout, with the Commodity Futures Trading Commission (CFTC) granting the world’s biggest prediction market a no-action letter that clears its path back into US waters.

The CFTC’s Wednesday decision lets Polymarket operate through QCX, a licensed derivatives exchange it bought for $112 million, effectively giving the platform legal cover to restart US operations. The regulatory body said it won’t go after the company for certain reporting and record keeping rules that typically apply to derivatives platforms.

“Polymarket has been authorized to launch in the USA by the CFTC,” CEO Shayne Coplan wrote on X. “Kudos to the Commission and Staff for their remarkable efforts. This achievement has been realized in record time”.

This does not change the fact that event contracts remain controversial: some view them as a disguised form of sports betting, while others see them as binary options; a product that, due to its gambling-like structure, has been completely banned in Europe.