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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 ...
He founded Polymarket in 2020. In May, the company said it had raised $70 million from investors including Peter Thiel's Founders Fund and the ethereum cofounder Vitalik Buterin.
To briefly recap, Polymarket was kicked out of the U.S. in 2022 for letting U.S. users bet on political prediction markets, which, at the time, was against the law.
Founded in 2020 by Shayne Coplan, [3] Polymarket is a prediction market that allows users to gain/lose on the outcome of world events. [4] In January 2022, Polymarket was fined US$1.4 million by the Commodity Futures Trading Commission (CFTC), and received a cease and desist order for regulatory violations, including failure to register as a Swap Execution Facility.
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 on those allegations but a spokesperson said the FBI raid was "obvious political retribution by the outgoing administration against Polymarket for providing a market ...
Using several different accounts on Polymarket, Théo racked up his massive Trump wager through a series of small transactions which he said was to help prevent the price of his bets from rising ...
Polymarket burst on the scene this year, but the idea behind it is centuries old and reflects a notion, popularized in the book The Wisdom of Crowds, that crowd-sourcing a question can produce ...