Polymarket files three NFA applications for US margin trading

Polymarket has filed three registration applications with the National Futures Association as it seeks to introduce margin trading for U.S. users.

According to the National Futures Association’s BASIC database, Polymarket affiliate Coming Home GBA LLC submitted the applications through PM Derivatives LLC on July 3.

The filings seek registration as a futures commission merchant, an NFA member, and a swap firm. Bloomberg previously identified Coming Home GBA as an entity affiliated with Polymarket.

Approval as a futures commission merchant would allow Polymarket to support trades in which users provide only part of the contract’s total value upfront. The platform would also need approval from the Commodity Futures Trading Commission before offering leveraged event contracts in the U.S.

Kalshi secured similar approvals in March

Rival prediction market Kalshi has already completed the NFA stage of the process. According to NFA records, its affiliate, Kinetic Markets LLC, received approval as a registered futures commission merchant and swap firm in March 2026.

Polymarket’s applications come as the company faces regulatory and legal scrutiny in the U.S. Bloomberg reported that the CFTC is investigating several parts of its business, including its social media operations.

One part of the reported inquiry concerns allegations that Polymarket hired content creators to post promotional videos featuring simulated trades and fabricated winnings. The company has not publicly addressed those allegations.

In New York, two users sued Polymarket on July 3 over the resolution of a market tied to whether Strategy would sell Bitcoin by May 31, 2026. The plaintiffs alleged the platform denied payouts to “Yes” holders even though Strategy disclosed the sale of 32 Bitcoins in an SEC filing.

The complaint claimed Polymarket changed the market’s clarification language after the outcome and used the timing of the disclosure, rather than the sale itself, to resolve the contract as “No.” The allegations have not been proven in court.

Alongside its U.S. expansion efforts, Polymarket added instant self-custodial Bitcoin deposits through the Lightning Network this week. Payment protocol Spark said the integration credits deposits in seconds after checking double-spend risk, fee levels, and replace-by-fee signals.