Polymarket has filed three registration applications with the National Futures Association to support margin trading in the United States. The filings mark another regulatory step for the prediction market platform. Approval would expand its potential trading services.
The applications were submitted on July 3 through PM Derivatives LLC. The filings were made on behalf of Coming Home GBA LLC. Bloomberg previously identified the company as a Polymarket affiliate.
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How Polymarket Plans U.S. Margin Trading
As per NFA BASIC, the approvals consist of three registrations. These include futures commission merchant, NFA membership, and swap firm registration. The approvals are essential in order for the traders to offer certain regulated services.
With registration as a futures commission merchant, the traders will be able to deposit just a portion of the value of the contracts. This structure supports margin trading instead of full upfront payments.
Moreover, the company will require a permit from the Commodity Futures Trading Commission to launch its leveraged event contracts in the US.
Prediction markets allow users to speculate about the future. Most prediction contracts resolve into yes-no binary outcomes. Subjects covered include elections, weather conditions, sports games, and cryptocurrency prices.
These securities distinguish themselves from conventional futures listed on futures exchanges, such as CME Group. They possess an easier structure to be understood by new participants. This feature contributed to the growth of popularity of prediction market platforms.
Kalshi Advances as Polymarket Faces Scrutiny
Kalshi has completed this stage of the regulation process. According to the NFA, the affiliate of Kalshi, Kinetic Markets LLC, received permits as a futures commission merchant and swap dealer in March 2026. Thus, the approval made Kalshi one step closer to registration.
Polymarket is also under the scrutiny of regulators in the US. According to Bloomberg, the CFTC investigates several aspects of the Polymarket business. Social media operations of the Polymarket platform are under investigation.
Another claim relates to promotional activities. This investigation revolves around the allegations of sharing of videos by the content creators depicting fake trades and wins. The company has not commented on these allegations.
Why Users Sued Polymarket Over a Bitcoin Market
The platform has also received a lawsuit from two users in New York on July 3. These two users have challenged the results of a market related to the possibility of selling Bitcoin by Strategy till May 31, 2026.
They have alleged that the company has refused to give any payoff to the holders of “Yes” contracts even though Strategy had disclosed the selling of 32 Bitcoins in an SEC filing.
In addition to the above allegations, it is also alleged that the clarification language of the platform was changed after the results. It further claimed the contract was settled using the disclosure date instead of the sale date. Those allegations have not been proven in court.
Apart from all these allegations, Polymarket has also announced the availability of Bitcoin payments via Lightning Network. According to Spark, the deposits will be credited instantly after checking the double-spend risk, fees, and replace-by-fee signal.
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