INSUBCONTINENT EXCLUSIVE:
The United States Department of Justice and the Commodity Futures Trading Commission (CFTC) have reportedly closed their investigations into
online betting platform Polymarket after several months
According to a Bloomberg report on Tuesday, authorities ended investigations into Polymarket to investigate whether the platform was
accepting trades from US-based users
company 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 home of Polymarket CEO Shayne
Neither Coplan nor Polymarket had publicly commented on the Bloomberg report at the time of publication.Related: Polymarket set for $200M
raise at $1B valuation: ReportsThe reported probe into Polymarket occurred during the administration of former President Joe Biden, when
many regulatory and government agencies were considered nonpartisan groups
In contrast, under President Donald Trump, the US Securities and Exchange Commission (SEC) has dismissed many enforcement actions and
investigations into crypto companies, including those whose executives supported his 2024 campaign
bipartisan regulator.The House of Representatives is set to vote on three crypto bills before the August recess, one of which could
radically change how the SEC and CFTC handle digital asset regulation
