The U.S. CFTC has launched a broad investigation into Polymarket, covering social media activities and fictitious trades
Svmuu News: The U.S. Commodity Futures Trading Commission (CFTC) is conducting a broad investigation into the prediction market platform Polymarket, covering various aspects of its business, including its social media activities. Previous reports indicated that Polymarket hired dozens of social media creators—mostly college-aged—to film fake trading videos to attract users. This investigation covers other aspects of the company’s operations. Last year, the CFTC and the Department of Justice concluded an investigation into whether Polymarket had violated the ban on U.S. users, but some U.S. users continue to access its main platform by circumventing the ban through means such as VPNs. Since reaching a settlement with the CFTC in 2022, Polymarket has technically barred U.S. users from using its main platform, but the company is taking steps to reintroduce its main exchange to the U.S. and is working with the CFTC to lift the ban.
Source:Odaily · Source Link
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