Polymarket Files for Regulated Margin Trading in the US
Polymarket has taken a major step toward offering margin trading in the United States. The popular prediction market platform filed applications with the National Futures Association (NFA) earlier this month.
Key Regulatory Filings
According to the NFA’s BASIC system, Polymarket’s affiliated entities submitted the necessary paperwork on July 3. PM Derivatives LLC filed for futures commission merchant (FCM) registration, NFA membership, and Swap Firm approval. Coming Home GBA LLC, another related entity, also submitted supporting applications.
To fully launch leveraged trading, Polymarket will still need final approval from the Commodity Futures Trading Commission (CFTC).
Kalshi Already Leads the Way
Polymarket’s main rival, Kalshi, is ahead in the race. In March 2026, Kalshi’s affiliate Kinetic Markets LLC received NFA approval as a registered FCM and Swap Firm. This allows Kalshi users to start margin trading sooner.
Benefits for Users
Margin trading will let Polymarket users place bets on events using only a fraction of the usual capital. This feature can increase accessibility and trading volume on the platform.
Strong Trading Volumes in June
Both platforms showed impressive growth last month. Kalshi recorded $33 billion in trading volume, while Polymarket and its U.S. entity together reached nearly $14 billion.
Prediction markets continue to attract massive interest. With these regulatory moves, Polymarket aims to compete more effectively in the growing U.S. market for event-based trading.
