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Polymarket is an American cryptocurrency-based prediction market, headquartered in Manhattan, New York City. Launched in 2020, it offers a platform where investors can place bets on various future events, including economic indicators , weather patterns, awards, as well as political and legislative outcomes.
The 2022 settlement with the Commodity Futures Trading Commission required Polymarket to pay a $1.4 million penalty for operating an illegal unregistered "event markets" that allowed users to bet ...
Polymarket declined to comment for this story, but a person familiar with the company said it was unlikely the court ruling would result in any sites offering bets in the U.S. on the presidential ...
The FBI has raided the home of Polymarket chief executive Shayne Coplan as part of an investigation into the crypto betting platform.. Federal law enforcement agents seized the 26-year-old CEO’s ...
In 2014, Coplan participated in the initial coin offering of Ethereum and acquired the cryptocurrency when it was priced significantly lower than its later value. [1] [3] Inspired by economist Friedrich Hayek’s theories on decentralized information systems and George Mason University professor Robin Hanson’s work on Futarchy, Coplan founded Polymarket in 2020, which operates as a ...
Polymarket lets people bet on a variety of things, like election outcomes and pop-culture events.. It's also taking bets on the Palisades fire in California — with at least nine different wagers ...
Polymarket, which does not allow trading in the U.S., also gained scrutiny after a mystery French trader, known as the Polymarket whale, made large bets on Trump winning the election.
The increased scrutiny of Polymarket comes after a trader revealed to be a French national bet $30 million on a win for Trump on the platform. The "whale" saw about $48 million in profits on the ...