Ligand-activated transcription factor. Receptor that binds peroxisome proliferators such as hypolipidemic drugs and fatty acids. Has a preference for poly-unsaturated fatty acids, such as gamma-linoleic acid and eicosapentanoic acid. Once activated by a ligand, the receptor binds to promoter elements of target genes. Regulates the peroxisomal beta-oxidation pathway of fatty acids. Functions as transcription activator for the acyl-CoA oxidase gene. Decreases expression of NPC1L1 once activated by a ligand (By similarity). Heterodimer with the retinoid X receptor (By similarity). Interacts (via domain NR LBD) with CRY1 and CRY2 in a ligand-dependent manner (PubMed:28683290, PubMed:28751364). Heart, adrenal and intestine. Belongs to the nuclear hormone receptor family. NR1 subfamily.