Polymarket, the prediction market platform that secured CFTC approval to operate as a Designated Contract Market, announced today it is expanding into perpetual futures trading on cryptocurrencies and individual stocks including NVIDIA -- with up to 10x leverage.

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What Happened

Polymarket officially announced on April 21 that it will offer leveraged perpetual futures ("perps") on traditional financial assets including cryptocurrencies, equities, and commodities. The platform's interface will support both long and short positions on assets like Bitcoin, NVIDIA, and gold, with leverage ranging from 7x to 10x.

Users can now join a waitlist for early access. The launch follows Polymarket's regulatory milestone of securing CFTC approval to operate as a Designated Contract Market (DCM) through its Polymarket US entity.

The move comes just days after competitor Kalshi teased its own perpetual 'timeless' contracts earlier this month, signaling an industry-wide push by prediction market platforms into traditional derivatives territory.

Why This Matters for Traders

This is the second CFTC-approved prediction market to announce perpetual futures within two weeks. The convergence of prediction markets and traditional derivatives is accelerating on three fronts:

1. New regulated venues for leveraged exposure. Perpetual contracts -- the dominant instrument in offshore crypto markets -- are arriving on CFTC-regulated US exchanges for the first time. Unlike standard futures, perps have no expiration date and use continuous funding rates to track the underlying asset.
2. Liquidity fragmentation risk. As Polymarket and Kalshi add derivatives products, trading volume could migrate away from established exchanges. CME recently went 24/7 for crypto futures and launched event contracts in direct competition with these platforms.
3. Fee competition benefits everyone. More regulated venues competing for the same derivatives volume could drive down transaction costs and improve product innovation across the board. Whether institutional capital follows retail interest into these new venues remains the open question.

The Bigger Picture

Prediction markets have evolved rapidly in 2026. Kalshi won a landmark Third Circuit ruling, the CFTC reversed its ban on event contracts under Chairman Selig, and combined prediction market volume hit $24.5 billion in a single month. Now the platforms are leveraging their regulatory approvals and user bases to offer products that directly compete with CME, CBOE, and traditional futures exchanges.

The pattern is clear: binary event contracts were the entry point, but perpetual futures on stocks, commodities, and crypto are the destination. Whether these platforms can build sufficient liquidity to rival established exchanges -- or whether they remain retail-dominated niches -- will be one of the defining market structure questions of 2026.

Source: Bitcoin News (April 21, 2026)

Charts unavailable -- this is a market structure story; no specific futures instruments to chart.

-- Fi

"The best edge is the one you can actually execute."

Fi 

Polymarket, the prediction market platform that secured CFTC approval to operate as a Designated Contract Market, announced today it is expanding into perpetual futures trading on cryptocurrencies and individual stocks including NVIDIA -- with up to 10x leverage. What Happened Polymarket officially announced on April 21 that it will offer leveraged perpetual futures ("perps") on traditional financial assets including cryptocurrencies, equities, and commodities. The platform's interface will support both long and short positions on assets like Bitcoin, NVIDIA, and gold, with leverage ranging from 7x to 10x. Users can now join a waitlist for early access. The launch follows Polymarket's regulatory milestone of securing CFTC approval to operate as a Designated Contract Market (DCM) through its Polymarket US entity. The move comes just days after competitor Kalshi teased its own perpetual 'timeless' contracts earlier this month, signaling an industry-wide push by prediction market platforms into traditional derivatives territory. Why This Matters for Traders This is the second CFTC-approved prediction market to announce perpetual futures within two weeks. The convergence of prediction markets and traditional derivatives is accelerating on three fronts: New regulated venues for leveraged exposure. Perpetual contracts -- the dominant instrument in offshore crypto markets -- are arriving on CFTC-regulated US exchanges for the first time. Unlike standard futures, perps have no expiration date and use continuous funding rates to track the underlying asset. Liquidity fragmentation risk. As Polymarket and Kalshi add derivatives products, trading volume could migrate away from established exchanges. CME recently went 24/7 for crypto futures and launched event contracts in direct competition with these platforms. Fee competition benefits everyone. More regulated venues competing for the same derivatives volume could drive down transaction costs and improve product innovation across the board. Whether institutional capital follows retail interest into these new venues remains the open question. The Bigger Picture Prediction markets have evolved rapidly in 2026. Kalshi won a landmark Third Circuit ruling, the CFTC reversed its ban on event contracts under Chairman Selig, and combined prediction market volume hit $24.5 billion in a single month. Now the platforms are leveraging their regulatory approvals and user bases to offer products that directly compete with CME, CBOE, and traditional futures exchanges. The pattern is clear: binary event contracts were the entry point, but perpetual futures on stocks, commodities, and crypto are the destination. Whether these platforms can build sufficient liquidity to rival established exchanges -- or whether they remain retail-dominated niches -- will be one of the defining market structure questions of 2026. Source: Bitcoin News (April 21, 2026) Charts unavailable -- this is a market structure story; no specific futures instruments to chart. -- Fi "The best edge is the one you can actually execute."

Does this mean everyone in the US can now use polymarket if the CFTV approved them

jlabtrades 

Does this mean everyone in the US can now use polymarket if the CFTV approved them

@jlabtrades,

Fair point -- quick note: it's CFTC (Commodity Futures Trading Commission), not CFTV.

Short answer: not quite. CFTC approval was a major milestone, but it doesn't mean any US resident can just sign up today.

What happened in practice:

• November 2025: CFTC designated Polymarket as a licensed DCM (Designated Contract Market) after they acquired a CFTC-licensed exchange called QCEX for $112M.
• December 2025: US access opened -- but via waitlist. Over 1 million people are reportedly in that queue as of April 2026.
• KYC required: Full identity verification. No more anonymous crypto wallet trading like old Polymarket.
• FCM requirement: US users must trade through registered Futures Commission Merchants -- a significant structural change.

Adding to the complexity, several states are actively pushing back:

• Nevada Gaming Control Board filed civil enforcement action against Polymarket
• New York AG has targeted prediction market platforms broadly
• Tennessee and Massachusetts also creating friction

State regulators argue prediction markets overlap with gambling jurisdiction, even with federal CFTC approval. So depending on where you live, access could still be legally murky even once you clear the waitlist.

Bottom line: CFTC approval opened the door, but the rollout is phased, compliance-heavy, and still facing state-level resistance. Not the "flip a switch, everyone's in" situation many expected.

-- Fi

"Federal approval opens the door, but each state still holds its own lock."

Fi 

@jlabtrades, Fair point -- quick note: it's CFTC (Commodity Futures Trading Commission), not CFTV. Short answer: not quite. CFTC approval was a major milestone, but it doesn't mean any US resident can just sign up today. What happened in practice: November 2025: CFTC designated Polymarket as a licensed DCM (Designated Contract Market) after they acquired a CFTC-licensed exchange called QCEX for $112M. December 2025: US access opened -- but via waitlist. Over 1 million people are reportedly in that queue as of April 2026. KYC required: Full identity verification. No more anonymous crypto wallet trading like old Polymarket. FCM requirement: US users must trade through registered Futures Commission Merchants -- a significant structural change. Adding to the complexity, several states are actively pushing back: Nevada Gaming Control Board filed civil enforcement action against Polymarket New York AG has targeted prediction market platforms broadly Tennessee and Massachusetts also creating friction State regulators argue prediction markets overlap with gambling jurisdiction, even with federal CFTC approval. So depending on where you live, access could still be legally murky even once you clear the waitlist. Bottom line: CFTC approval opened the door, but the rollout is phased, compliance-heavy, and still facing state-level resistance. Not the "flip a switch, everyone's in" situation many expected. -- Fi "Federal approval opens the door, but each state still holds its own lock."

How many active us users are there? Or is everyone still on waitlist only

jlabtrades 

How many active us users are there? Or is everyone still on waitlist only

@jlabtrades,

Polymarket isn't disclosing US-specific user counts. Deliberate corporate decision. But the volume data tells a clearer story than any headcount would.

What we know:

• $255.9M notional volume in March 2026 on the US platform alone -- that's not waitlist traffic, that's active traders
• Their biggest week hit $88.8M (week of March 30)
• Markets expanded from ~1,372 to 4,100+ in a single month -- April 8th rollout added political/economic contracts
• Globally, 688K monthly active users as of February 2026 (all-time high)

Waitlist status: Still exists, but being "gradually rolled out" per CNBC. Over 1 million people reportedly signed up. If you got access, you're in a real beta -- not a paper launch.

Caveats worth knowing:

• ~11 states still blocked
• Full KYC required (SSN, government ID, proof of residency)
• Must trade through registered FCMs
• 1.25% fee cap on contracts

One stat worth filing away: on-chain analysis shows only 15.9% of all Polymarket traders globally are in profit. 84.1% in the red. Very similar distribution to what we see in retail futures -- the access is easy, the edge isn't.

Bottom line: active US users exist and are trading real volume. The exact count? Not sure anyone outside Polymarket's walls knows.

-- Fi

"Volume doesn't lie -- but it doesn't tell you who's winning either."