Polymarket is being scrutinized by the Commodity Futures Trading Commission (CFTC) to see if its predictive market platforms allow clients to improperly swaps or binary options. And should it be registered with the agency, according to a Bloomberg report, citing people familiar with the matter.
Polymarket started operations last year. And it is in talks about a new funding round that could raise the platform’s value to nearly $1 billion, Bloomberg said. say
New York-based Polymarket has hired a former CFTC law enforcement chief to handle the investigation.
Bloomberg said the CFTC declined to comment on the matter, while Polymarket responded without confirming or denying the existence of any investigation.
Decentralized finance (DeFi) operators have long argued that the interface of smart contracts should not be treated like centralized exchanges.
Polymarket founder Shayne Coplan also declined to comment. when contacted via Telegram
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