Polymarket is a decentralized prediction market platform that allows users to place bets on world events. Users buy and sell shares using cryptocurrency to bet on the likelihood of future events taking place.

Events on which bets have been placed included the outcome of the Titan submersible investigation and the likelihood of Russia utilising nuclear weapons.[1]

In January 2022, the platform was fined US$1.4 million by the Commodity Futures Trading Commission, alongside receiving a cease and desist order, following regulation violations including not registering as a Swap Execution Facility.[2][3]

References

  1. ↑ "A resurgent online betting market is boosted by crypto and current events". NBC News. 2023-07-10. Retrieved 2023-12-13.
  2. ↑ "CFTC Fines Polymarket and Issues a Cease and Desist". Yahoo Finance. 2022-01-04. Retrieved 2023-12-13.
  3. ↑ "Event-Betting Platform Polymarket to Pay $1.4 Million U.S. Fine". Bloomberg.com. 2022-01-03. Retrieved 2023-12-13.
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