Polymarket is in talks with the U.S. Commodity Futures Trading Commission (CFTC) to lift a four-year ban and reopen its trading platform to U.S. users. The platform, built on the Polygon blockchain and settled in USDC, was previously fined $1.4 million in 2022 for operating without registration. The decision now rests solely with CFTC Chair Michael Selig, who has been a vocal advocate for prediction markets. Selig's unique position as the sole decision-maker has raised concerns about potential policy reversals if new commissioners are appointed. Approval would mark Polymarket as the first crypto-native platform under U.S. federal derivatives regulation, addressing previous user workarounds via VPNs. Both Polymarket and the CFTC have yet to comment on the ongoing negotiations.