Polymarket announces NFA approval for PM Derivatives

Polymarket announced on 3 November that its affiliate PM Derivatives LLC had received National Futures Association approval as a futures commission merchant, adding an affiliated broker to its US derivatives business.

Prediction Frontier checked the firm's NFA BASIC record on 4 November. It records FCM registration, NFA membership approval and swap-firm approval on 30 October, four days before the public announcement. The profile identifies PM Derivatives as CFTC registered and says its activity is exclusively limited to swaps.

Registration precedes customer business

The same profile currently labels PM Derivatives an inactive member, based on information supplied by the firm. Its activity-status record says it has no commodity-interest customers and is not soliciting customers.

Reuters reported on 3 November that further CFTC approval was needed before the broker could operate. The company announcement describes brokerage authorisation as completed. The registration record confirms registered status, but does not establish a customer launch date or resolve every remaining operating condition.

A broker alongside the US exchange and clearinghouse

Polymarket places PM Derivatives alongside exchange operator QCX LLC, trading as Polymarket US, and clearinghouse QC Clearing LLC. The company says the broker adds a route for handling customer orders and funds and working with distribution partners.

All positions through PM Derivatives will be funded in full when traded, according to Polymarket. Any future margin offering would require additional approval. Existing FCM and brokerage partners will continue providing access to Polymarket US.

The announcement concerns Polymarket's US affiliates. It does not establish a new authorisation for the separate international platform.