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Polymarket has received regulatory approval from the US CFTC, and the operation of its prediction market platform is on the right track.
Source: DigitalToday Original Title: Polymarket Obtains U.S. Regulatory Approval… Full-scale Operation of Prediction Market Platform Original Link:
The prediction market platform Polymarket has received formal operational approval from the U.S. Commodity Futures Trading Commission (CFTC).
With this approval, Polymarket can operate a brokerage trading platform that complies with federal regulatory requirements. This approval will enable Polymarket to directly solicit brokers and clients in the United States and plans to support trading on local exchanges. Polymarket founder and CEO Shane Copeland emphasized: “This approval reflects the maturity and transparency required by the U.S. regulatory framework.”
Polymarket was under investigation by the CFTC and the U.S. Department of Justice earlier this year. The point of contention was whether Polymarket accepted trades from U.S. users. During this process, the FBI also searched the residence of Copeland's CEO and seized electronic devices.