Tag: Polymarket

South Korean police have booked 26 domestic users of decentralized prediction platform Polymarket for illegal gambling, referring 18 of them to prosecutors.  According to data released by the National Police Agency on September 17, the Gangwon Provincial Police Agency’s Cyber Investigation Unit found that the users collectively wagered 17.6 billion ...

JPMorgan Chase has ended its banking relationship with Polymarket, forcing the crypto-based prediction market to move its accounts to another bank as regulatory and compliance concerns continue to shape how US banks work with digital asset companies. JPMorgan debanked Polymarket over regulatory concerns https://t.co/VbdoFOrPUt — Financial Times (@FT) August 14, ...

South Korea has delayed any immediate action against crypto-based prediction market Polymarket, giving the platform an opportunity to explain how its service operates before regulators decide whether it violates the country's gambling laws. South Korea is actively reviewing and updating its crypto regulations. The country has delayed enforcement against Polymarket ...

Bitbank, one of Japan’s largest cryptocurrency exchanges, has warned customers that using prediction market platforms such as Polymarket could lead to account restrictions if the transactions are viewed as conflicting with the country’s gambling laws. In a notice published on Monday, the exchange said it may suspend accounts involved in ...

James Comer, who leads the House Oversight Committee, has started an investigation into the prediction platforms Kalshi and Polymarket. He is looking into possible insider trading related to world events and elections.  Comer has asked both companies to explain how they check user identities, set location restrictions, and spot suspicious ...

Kalshi and Polymarket are intensifying their efforts in Washington as U.S. lawmakers weigh new regulations to curb what some call "wild west" behaviour in prediction markets. This legislative push follows a series of high-profile, suspiciously timed bets on geopolitical events, including military actions in Iran and Venezuela, which have raised ...

Four newly created crypto wallets generated a combined $663K in profits on the prediction platform Polymarket after correctly wagering on a U.S.–Iran ceasefire, raising fresh concerns about potential insider trading in decentralized markets. Blockchain data shows the wallets were created and funded on Tuesday, with no prior transaction history before ...

A bipartisan effort is gaining traction in Washington as two U.S. senators push new legislation aimed at tightening control over prediction markets, particularly those tied to sports and casino-style activities. The proposal signals a growing concern among lawmakers over how these fast-rising platforms operate and who should regulate them. Lawmakers ...

Quick Breakdown Crypto prediction markets like Polymarket let users bet on real-world events using blockchain-based contracts that change value depending on the outcome. An investigation connected to Axiom found that a small group of wallets earned about $1.2M from highly accurate bets, raising concerns about possible insider information. The case ...

Polymarket has filed a federal lawsuit against Massachusetts officials, escalating a growing legal battle over who has the authority to regulate prediction markets in the United States. The crypto-based platform said state regulators are threatening enforcement actions that could disrupt its nationwide operations, following a recent court ruling against rival ...