Polymarket seeks U.S. margin trading license, potentially allowing users to place bets with less upfront capital

Odaily Planet Daily News Prediction market platform Polymarket is seeking U.S. regulatory approval to offer margin trading, allowing users to place bets with less upfront capital. The company, through its affiliate Coming Home GBA LLC, has submitted an application to the National Futures Association for a Futures Commission Merchant license and also needs CFTC approval of its rulebook to allow non-fully collateralized trading. Polymarket representatives confirmed that the FCM license application has been submitted. Kalshi obtained an FCM license earlier this year and launched perpetual contracts, generating over $5.5 billion in trading volume within two weeks. If Polymarket's application is approved, users will need to undergo additional identity verification, including providing employer information.