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US agency is again probing if Polymarket broke 2022 settlement: Reuters
The agency is reviewing Polymarket’s controls, advertising and U.S. platform as it weighs whether the company complied with a 2022 settlement.
- The Commodity Futures Trading Commission is investigating whether Polymarket violated a 2022 enforcement deal requiring it to block United States users from its offshore platform, reviving an inquiry the agency shuttered last year without bringing charges.
- Under the 2022 settlement, Polymarket agreed to restrict United States access, but scrutiny intensified after reports that users circumvented geographic controls using virtual private networks and "exit mode," which geolocated to a foreign country.
- Fresh concerns emerged in April when the Justice Department charged a United States soldier with making $400,000 from insider bets on the offshore platform, sparking questions about the company's existing user controls.
- Enforcement director David Miller stated in March that he would aggressively police prediction markets, despite a slump in the agency's overall enforcement activity during President Donald Trump's second administration.
- The CFTC is also scrutinizing Polymarket's United States platform, launched late last year, to evaluate customer onboarding processes; officials noted that investigations do not necessarily indicate wrongdoing and many do not result in enforcement actions.
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US agency is again probing if Polymarket broke 2022 settlement, sources says
A US regulator is investigating whether prediction market operator Polymarket violated a 2022 enforcement deal in which it promised to ban US users from its main overseas platform, reviving an inquiry the agency shuttered last year without bringing charges, said two people familiar with the matter.
·London, United Kingdom
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The CFTC examines the internal controls and promotion of Polymarket in the United States, while the predictive market faces further investigations for possible insider trading.
Coverage Details
Total News Sources10
Leaning Left0Leaning Right1Center4Last UpdatedBias Distribution80% Center
Bias Distribution
- 80% of the sources are Center
80% Center
C 80%
R 20%
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