Polymarket seeks US margin trading license, allowing users to bet with less upfront capital

Odaily reported that prediction market platform Polymarket is seeking U.S. regulatory approval to offer margin trading, allowing users to bet with less upfront capital. The company, through its affiliate Coming Home GBA LLC, has submitted a futures commission merchant (FCM) application to the National Futures Association and needs CFTC approval of its rulebook to permit non-fully collateralized trading. A Polymarket representative confirmed the FCM license application has been filed. Kalshi obtained an FCM license earlier this year and launched perpetual contracts, which saw over $5.5 billion in trading volume within two weeks. If Polymarket's application is approved, users will be subject to additional identity verification, including providing employer information.