According to (Bloomberg) reports, the FBI raided the New York apartment of Shayne Coplan, CEO of the cryptocurrency prediction and gambling platform Polymarket, in the early morning of November 13 and seized his mobile phone and electronic devices. The authorities suspected that Polymarket was suspected of allowing American users to conduct transactions and violated regulations. Previous Agreements with Regulators.
Under Polymarket’s agreement with the Commodity Futures Trading Commission (CFTC) in 2022, the platform cannot allow US users to trade, however as the November 5 US presidential election approaches, demand for election betting has soared, so Polymarket quickly Going viral, the platform also claims its predictions are more accurate than traditional polls.
The platform allows users to place unlimited bets, while rival platform Kalshi has betting limits. Polymarket has huge conflicts of interest and has also raised concerns about manipulation. Critics believe that this may affect the market and manipulate public opinion to tilt towards Trump. Polymarket stated that they are a completely transparent platform, will not support any party and will defend the company and the community, claiming that the FBI's investigation is politically motivated and that the company has no motive to manipulate public opinion.
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"MICA Daily｜Polymarket is under investigation by the U.S. Department of Justice for allegedly serving U.S. users." This article was first published on (Block Guest).
