# Polymarket's PM Derivatives Wins NFA Approval for U.S. Brokerage

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/48385
Published: 2026-11-04T09:37:10.000Z
Updated: 2026-11-04T09:37:10.000Z
Section: Regulation

> The unit plans to require customers to fund each position in full when they trade. A later move to margin trading would need further regulatory approval.

Polymarket's PM Derivatives, LLC received National Futures Association (NFA) approval as a futures commission merchant, adding a regulated brokerage arm to the company's U.S. exchange and clearing operations.

Polymarket announced the approval Nov. 3. The authorization permits PM Derivatives to accept customer orders and hold customer funds as a broker. Polymarket did not announce that the unit had begun serving customers.

The company already has a U.S. exchange, QCX LLC, which operates as Polymarket US under Commodity Futures Trading Commission (CFTC) oversight. Affiliate QC Clearing LLC is its clearinghouse. The brokerage adds a way for customers to reach Polymarket's U.S. markets through an intermediary alongside its direct exchange model.

PM Derivatives plans to require customers to fund each position in full when they trade. A later move to margin trading would need further regulatory approval. The broker also gives Polymarket a route to work with distribution partners in jurisdictions that require a regulated intermediary.

Polymarket plans to continue working with its existing brokerage partners. Those firms will keep offering their customers access to Polymarket US markets.