Polymarket's PM Derivatives has received NFA approval, but is still awaiting CFTC approval.

Polymarket's PM Derivatives LLC has received approval from the National Futures Association (NFA) to operate as a futures commission broker, but still needs approval from the Commodity Futures Trading Commission (CFTC) to conduct full-collateralized brokerage (FCM) business. PM Derivatives plans to operate on a fully collateralized basis, with all positions fully funded at the time of trade. PM Derivatives CEO Nikhil Joshi stated that this approval is a fundamental step for the company. An NFA spokesperson confirmed the approval and said that PM Derivatives has met all the requirements for FCM registration. (Source: Reuters)