Wire · operational-macro
Polymarket Seeks Margin Trading License for US Event Bets
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Fusion42 · 12 July 2026 · Fusion42 review
Polymarket has filed to become a futures commission merchant with the National Futures Association, seeking regulatory approval to offer margin trading on US event bets. The move would require additional CFTC approval but would bring Polymarket closer to product parity with rival Kalshi, which already launched leveraged perpetual futures.
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◆ ◆ The Wire takeaway
If you're building prediction market infrastructure or liquidity tools, you're now racing against institutionalised leverage. Kalshi already has the license and $5.5bn volume in perpetual futures; Polymarket's filing signals the market is moving from retail event bets to leveraged institutional products, and your edge shrinks once both platforms can offer the same margin mechanics.
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