Acetone is a compound, and it is organic, colorless, volatile, flammable, and has a unique odor. It is used as a solvent in industry, lab, and home. It is used to make nail polish remover and paint thinner. It is on the VOC exempt list as it has no restrictions even though volatile. Your body also produces acetone when it breaks down fat. Breathing in sizeable amounts of acetone can cause health problems like sore throat, cough, headache, and confusion.
Non-Acetone nail polish remover is also available, and even though it does not work as quickly as acetone, your nails will thank you for it. Non-Acetone removers usually have ethyl acetate, which is colorless, also flammable, and the smell is much better.