Where is Polymarket located? Ask that question expecting one answer and you will end up with three, because the brand name covers three legally separate companies in three different places — and one of those places turned out, when a reporter actually went looking, to have nobody in it.

The Real Office: SoHo, Manhattan

Blockratize Inc., the Delaware corporation Shayne Coplan founded and still leads as CEO, has run Polymarket out of 78 Crosby Street in Lower Manhattan since 2023. In August 2026 the company doubled its footprint there, adding a fourth floor to the fifth floor it already leased, for 12,700 square feet total in a SoHo building where asking rent has climbed alongside demand for the neighborhood’s office space. This is where the people who build and run Polymarket actually work. It is also, notably, not the entity that operates the platform most of the world trades on.

One founder, two hats. Coplan runs Blockratize from New York as CEO. Records also show him serving roughly three months as president of Adventure One QSS Inc., the Panama entity below, between December 2021 and April 2022 — right around when that company was formed.

The Paper Address: Panama City

When the CFTC settled with Blockratize in 2022 over running an unregistered exchange, "operator" status for polymarket.com — the international platform, which still carries the large majority of global trading volume — passed to Adventure One QSS Inc., a company formed in Panama just a few months earlier. Its listed address is the 21st floor of the Oceania Business Plaza tower in Punta Pacifica, an upscale Panama City district. NPR sent reporters there in 2026 to find it. They found a nondescript law-office lobby, roughly a dozen unused computer stations, and a staffer who had never heard of Polymarket or Adventure One. Polymarket’s own website discloses only that "the international platform is not regulated by the CFTC and operates independently" — it does not explain who is actually answering phones in Punta Pacifica, because on the evidence, no one is.

Blockratize Inc.: Delaware corporation, real HQ at 78 Crosby Street, SoHo, New York City.

Adventure One QSS Inc.: Panama entity, listed address at Oceania Business Plaza, Punta Pacifica — found empty by NPR in 2026.

QCX LLC d/b/a Polymarket US: CFTC-designated exchange, Boca Raton, Florida filings.

The Regulated Piece: Boca Raton, Florida

The third company has nothing to do with either of the first two addresses. QCX LLC earned its CFTC designation as a contract market in July 2025, and Polymarket bought its holding company for $112 million that same month specifically to relaunch a US-compliant product under the name Polymarket US. QCX’s regulatory filings list a Boca Raton, Florida address — the entity came out of a Florida-based derivatives shop, not out of Polymarket’s own SoHo buildout. It is the one piece of the Polymarket name that sits squarely inside normal US financial regulation, with its own office, its own state, and its own paper trail that actually checks out.

Why an Empty Office Matters Here

A missing address is not just a real-estate curiosity when the company in question runs a market people put money into. Adventure One QSS Inc. is the entity legally standing behind the international platform’s trades, and reporters could not confirm it does anything at the address it lists. That gap is exactly the kind of detail regulators and reporters have kept probing through 2026 — and exactly why a "Polymarket is a New York company" answer, while true for Blockratize, is incomplete for the platform most non-US users actually trade on.

The Short Version

Polymarket the brand is really three companies: Blockratize Inc., a real, growing office at 78 Crosby Street in SoHo; Adventure One QSS Inc., a Panama entity nominally operating the international site from an address NPR found empty in 2026; and QCX LLC, doing business as Polymarket US, a CFTC-regulated exchange headquartered in Boca Raton, Florida. Only one of those three addresses is unverified as an actual place of business — and it is the one tied to the platform carrying most of the volume.