Polymarket seeks license to legally offer margin trading in the United States

CoinFeed July 10 news, according to Bloomberg, prediction market platform Polymarket is seeking US regulatory approval to offer margin trading, allowing users to participate in bets with less upfront capital. The company, through its affiliate Coming Home GBA LLC, submitted a Futures Commission Merchant (FCM) application to the US National Futures Association, and needs CFTC approval of its rulebook to allow non-fully collateralized trading. A Polymarket representative confirmed that the FCM license application has been submitted. Margin trading is seen as key to attracting institutional investors; Kalshi earlier this year obtained an FCM license and launched perpetual contracts, with trading volume exceeding $5.5 billion in two weeks. If Polymarket's application is approved, users will need to undergo additional identity verification, including providing employer information.