Polymarket generated $14 billion in trading volume from sports betting in the US within 30 days, while facing CFTC scrutiny.
According to DeFi Rate data, prediction market Polymarket's US platform recorded approximately $13.7 billion in notional trading volume in the 30 days ending October 26, with sports betting accounting for 98.2%. Reuters reported that the US Commodity Futures Trading Commission (CFTC) is once again reviewing whether Polymarket has complied with the 2022 settlement agreement that restricted US users from accessing its offshore platform, and is investigating customer protection measures on its US platform. Additionally, the CFTC announced on October 27 that it had sued the state of Utah to resolve the dispute over whether prediction markets are governed by federal or state law.
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