The National Futures Association approved Polymarket subsidiary PM Derivatives LLC for Futures Commission Merchant registration, Reuters reported, according to BlockBeats. The company still needs approval from the U.S. Commodity Futures Trading Commission before it can begin futures-brokerage operations.
Proposed brokerage model
Polymarket operates a CFTC-registered exchange and an offshore platform. If the CFTC approves PM Derivatives, the unit could intermediate customer orders and funds. Polymarket said it plans a fully collateralized model under which customers provide full funding for positions when trades execute.
Regulatory review continues
The approval arrives while prediction markets face regulatory scrutiny and legal challenges. The CFTC is still investigating Polymarket, so the NFA registration does not by itself authorize U.S. futures brokerage.
Source: BlockBeats English report, published Nov. 4, 2026.