{"id":1547135,"date":"2025-07-15T15:45:00","date_gmt":"2025-07-15T19:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1547135"},"modified":"2025-07-15T15:45:00","modified_gmt":"2025-07-15T19:45:00","slug":"doj-cftc-end-biden-era-probe-into-polymarket","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/doj-cftc-end-biden-era-probe-into-polymarket\/1547135\/","title":{"rendered":"DoJ, CFTC End Biden-Era Probe Into Polymarket"},"content":{"rendered":"

DoJ, CFTC End Biden-Era Probe Into Polymarket<\/span><\/p>\n

\n

Nine months after what Polymarket CEO\u00a0Shayne Coplan called\u00a0a \u201clast-ditch effort\u201d to go after companies deemed to be associated with President Biden\u2019s political opponents<\/strong>, the Trump administration’s Department of Justice has shut down two investigations into the crypto-betting platform.<\/p>\n

<\/a><\/p>\n

Polymarket CEO,\u00a0Shayne Coplan<\/em><\/p>\n

Bloomberg <\/a>reports,\u00a0according to a person with direct knowledge of the matter, that the predictions exchange received formal notice earlier this month<\/strong> from the US Justice Department and Commodity Futures Trading Commission that the probes had ended<\/strong>.<\/p>\n

Polymarket\u2019s popularity surged during last year\u2019s election campaigns<\/strong> as users flocked to the platform to place cryptocurrency wagers on the outcome.<\/p>\n

But that also drew investigators, examining whether the site was accepting trades from US-based users in violation of a previous settlement with federal regulators.<\/p>\n

Bloomberg <\/a>reports that The CFTC had its own investigation into the platform. The derivatives regulator, which oversees prediction platforms because their contracts are considered akin to swaps, had entered into a settlement with Polymarket in January 2022 over allegations it failed to register with the agency.<\/p>\n

As part of the deal, Polymarket vowed to wall off US traders from its exchange.<\/p>\n

Both the CFTC and Justice Department lawyers in Manhattan were investigating whether the New York-based platform continued accepting wagers from people in the US using virtual private networks or other means to bypass the company\u2019s controls.<\/strong> The prediction market notched about $2.6 billion in trading volume in November.<\/p>\n

The situation escalated dramatically a week after the November elections, when FBI agents carried out a pre-dawn raid at the Soho penthouse of CEO Shayne Coplan.<\/strong><\/p>\n

The decisions are the latest example of US authorities reversing course on Biden-era actions involving digital-asset firms<\/strong>, and comes as some in Washington are celebrating what\u2019s being billed as \u201cCrypto Week\u201d <\/strong>with plans to usher in industry-backed rules that have sent the price of Bitcoin to a record.<\/p>\n

Polymarket has been building a war chest with new investment rounds led by Peter Thiel\u2019s Founders Fund.<\/p>\n

It also recently announced a partnership with Elon Musk\u2019s X and xAI <\/strong>to offer event forecasts on the social media platform.<\/p>\n

The resolution of the two investigations may even pave the way for Polymarket to officially re-enter the US market.<\/strong><\/p>\n

That could include registering with the CFTC as a futures exchange or potentially acquiring another entity with a CFTC license.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 07\/15\/2025 – 11:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/political\/doj-ends-biden-era-probe-polymarket<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

DoJ, CFTC End Biden-Era Probe Into Polymarket Nine months after what Polymarket CEO\u00a0Shayne Coplan called\u00a0a \u201clast-ditch effort\u201d to go after companies deemed to be associated…<\/p>\n","protected":false},"author":0,"featured_media":1547136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1547135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1547135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1547135"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1547135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1547136"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1547135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1547135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1547135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}