CFTC Fines Crypto Betting Service Polymarket $1.4 Million, Orders Shutdown Of Markets
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The CFTC has issued a fine of $1.4 million and a cease and desist order against popular crypto betting platform Polymarket The startup allowed users to bet on anything from election results to…
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Yesterday, the news was released that in the context of the investigation against Polymarket, the CFTC has also subpoenaed Coinbase. Biden’s CFTC is subpoenaing customer info from @coinbase in their case against @Polymarket pic.twitter.com/YlCdUPwHs7 — eric.eth (@econoar) January 8, 2025 The same Coinbase reports it, stating in an email sent…
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Show AI SummaryWisconsin’s lawsuits against major crypto platforms may set a precedent for future state-level regulation of sports betting and prediction markets.The outcome of these lawsuits could impact the revenue models of companies like Kalshi, which generates over $1 billion annually from sports-related contracts.If successful, the state’s efforts to block…