US agency is again probing if Polymarket broke 2022 settlement, sources says
A US regulator is investigating whether prediction market operator Polymarket violated a 2022 enforcement deal in which it promised to ban US users from its main overseas platform, reviving an inquiry the agency shuttered last year without bringing
The Commodity Futures Trading Commission (CFTC) is re-examining whether prediction market operator Polymarket violated a 2022 agreement. The agency had previously shut down an investigation last year without charging the company. Sources say the CFTC is focusing on Polymarket's steps to restrict US users from its main overseas platform and scrutinizing its US platform controls, advertising activities, and customer protections.
Polymarket, based in New York with an offshore entity in Panama, began rolling out its US platform late last year. The CFTC's renewed inquiry comes as the agency reopened a probe into Polymarket's compliance with the 2022 settlement. The decision to reopen the probe has raised questions about why the CFTC and Justice Department closed similar investigations last year.
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