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Industry
August 2, 2024
Betting Frenzy Surrounding US Presidential Race Reaches New Heights
The US presidential election is turning out to be a goldmine for bookmakers worldwide, with estimates suggesting that roughly $1 billion has been wagered on the outcome despite several months remaining before Election Day. The twists and turns surrounding the 2024 presidential debate have only fueled the fire, creating many exciting betting opportunities. Wagering Platforms […]
Blockchain
June 18, 2024
Gambler Charged for Betting on Taiwan Election via Crypto Site
A man in Taiwan has been accused of allegedly using a crypto betting site to wager on this year’s elections. According to prosecutors from the Shilin District Prosecutor’s Office, a man with the surname “Chen” used the Polymarket platform to wager on the result of the elections that ended on June 13. The same Prosecutor’s […]
Business
May 15, 2024
Polymarket Closes Another Round, Sees Funding Surpass $70 Million
Polymarket is known as the world’s largest prediction market, which offers trading on highly debated topics, including politics, sports, crypto, current events and many others. The markets offered address a growing demand for wagers not only on popular sports events but real-world events. Such wagers are recognized across the United States as “event contracts.” Despite […]
Blockchain
January 4, 2022
Wagering Platform Polymarket Fined by CFTC
The Commodity Futures Trading Commission (CFTC) has fined Polymarket for its cryptocurrency prediction service, and ordered it to close down its markets. Users will also be offered full refunds to settle charges that the company did not register with the regulator. Polymarket Fined Over Violations The penalties were announced by the CFTC on Monday. Polymarket, […]
Blockchain
October 25, 2021
Polymarket under CFTC’s Microscope for Derivative Trading
Polymarket, a New York-based cryptocurrency wagering platform, is under investigation by the US Commodities and Futures Trading Commission (CFTC) for breaking financial rules, Bloomberg reported over the weekend. Trading with Derivatives Tasked with regulation for derivatives trading, the CFTC launched a probe into Polymarket, investigating whether the platform is allowing its customers to trade swaps […]