The U.S. SEC and CFTC announced that registered trading platforms can now facilitate the trading of certain spot crypto assets, marking a shift in regulatory stance and aiming to establish a clearer framework for the crypto market ahead of pending legislation. The agencies are encouraging market participants to engage with them to navigate this new opportunity, highlighting their commitment to support growth in the crypto sector.

Polymarket, a crypto-based prediction markets platform, has received approval from the CFTC to operate in the United States. The ruling follows a no-action letter regarding swap data reporting and recordkeeping regulations, paving the way for Polymarket's entry after a prior federal investigation was dropped.

Two federal investigations into the online prediction betting site Polymarket have concluded without any charges being filed, as confirmed by a source familiar with the matter. The investigations, conducted by the U.S. Justice Department and the Commodity Futures Trading Commission, looked into whether Polymarket was accepting bets from U.S. residents despite previous assurances not to do so. Polymarket's CEO, Shayne Coplan, has criticized the prior administration's actions against the company but has expressed gratitude towards the current administration for its support of crypto innovation.

U.S. CFTC Commissioner Kristen Johnson has announced her departure, leaving the agency with no sitting commissioners as it prepares for incoming chairman Brian Quintenz. Legal experts warn that the commission could face challenges if it operates with just one commissioner, raising concerns about its ability to effectively oversee the growing U.S. crypto market.

A new draft of a major crypto market structure bill in the U.S. Senate proposes establishing a joint advisory committee between the SEC and CFTC to harmonize digital asset regulations. The bill includes protections for DeFi developers, clarifies the treatment of airdrops, and exempts Decentralized Physical Infrastructure Networks from securities laws.