The filing would let Polymarket users open positions without posting full collateral, following Kalshi’s FCM-backed perpetuals launch.
Polymarket has applied for a US futures commission merchant license to offer margin trading on its prediction markets, Bloomberg reported Thursday. The move would let traders open positions without posting full collateral upfront.
The application, filed July 3 with the National Futures Association through Polymarket affiliate Coming Home GBA LLC, seeks FCM registration, according to documents cited by Bloomberg. Polymarket must also win approval from the Commodity Futures Trading Commission to amend its rulebook to permit non-fully collateralized trades, the filing shows.
A Polymarket representative confirmed to Bloomberg that the application had been submitted, with the goal of attracting more institutional investors to the platform. Under the proposed rules, users of margin products would face additional identity checks, including providing employer information, Bloomberg reported.
Following Kalshi’s Lead
The filing tracks a similar path taken by rival Kalshi, which obtained an FCM license earlier this year and subsequently launched perpetual contracts that generated more than $5.5 billion in trading volume within two weeks. Polymarket has been rebuilding its US footprint since receiving CFTC approval to operate domestically last November, following a earlier report that it had sought full CFTC sign-off for its main platform in April.