CFTC investigates Polymarket over 2022 deal banning US users
Business
The US Commodity Futures Trading Commission (CFTC) is investigating Polymarket to see if it broke a 2022 deal that banned Americans from using its main overseas platform.
This new probe also looks at how well Polymarket actually blocks US users and whether its advertising activities in the United States.
So far, both sides have declined to comment.
Some users reportedly bypassed Polymarket geo-blocks
Polymarket agreed in 2022 to keep US users off its main platform after being accused of running illegal operations since 2020.
Even with supposed geo-blocks, some users reportedly found ways around them.
Now, the CFTC is checking if Polymarket's past fixes and its separate US site launched later really did the job.
Despite all this, Polymarket says it's sticking to the rules.