The USA Division of Justice and the Commodity Futures Buying and selling Fee (CFTC) have reportedly closed their investigations into on-line betting platform Polymarket after a number of months.
In response to a Bloomberg report on Tuesday, authorities ended investigations into Polymarket to analyze whether or not the platform was accepting trades from US-based customers. The investigation reportedly ramped up after the 2024 US elections, when many Polymarket customers have been betting on the result of races.
The corporate reached a $1.4 million settlement with the CFTC in 2022. Amid the reported investigations in November 2024, the Federal Bureau of Investigation (FBI) raided the house of Polymarket CEO Shayne Coplan, confiscating his digital gadgets.
Cointelegraph reached out to a Polymarket spokesperson for remark, however had not acquired any response on the time of publication. Neither Coplan nor Polymarket had publicly commented on the Bloomberg report on the time of publication.
It is a growing story, and additional data will likely be added because it turns into accessible.
