Bitcoin.com 14 Nov 2024

Report: Polymarket Under DOJ Probe After Explosive Bets on Trump-Harris Election 🇺🇸

DOJ Donald Trump Shayne Coplan USA Polymarket

The U.S. Department of Justice is reportedly investigating Polymarket, a prediction market platform known for facilitating bets on political events, including the Trump-Harris election scenario. This scrutiny follows an FBI raid on the residence of Polymarket's CEO, Shayne Coplan, as reported by Bloomberg.

Polymarket has become a subject of interest for the federal authorities due to its unique position in allowing users to place bets on various outcomes, including political elections that draw significant public interest. The report indicates that Polymarket's activities raised concerns, prompting a deeper look by the DOJ.

This investigation may impact the prediction market's operations, especially since betting on election outcomes is a contentious area in U.S. law. Polymarket has expressed its commitment to continue building in the face of adversity despite the potential legal challenges ahead.

Source: news.bitcoin.com ↗