Svmuu News: The U.S. Commodity Futures Trading Commission (CFTC) recently launched an investigation into the prediction market platform Polymarket, and the investigation is currently ongoing.
Previously, multiple parties—including a lawsuit filed by a consumer advocacy group in the Washington Superior Court—have accused Polymarket of using paid social media endorsements for misleading advertising and targeting college students. A Polymarket spokesperson responded that the company is committed to maintaining an accurate, fair, and transparent market and is currently conducting a comprehensive audit of its active promotional content to ensure compliance with standards and regulatory disclosure requirements. In addition, more than 12 U.S. states have taken legal action against Polymarket and Kalshi, accusing them of operating illegal sports betting, while the CFTC has filed counterclaims against some of the states and asserted exclusive jurisdiction. (FT)