Predictions Platform Polymarket Raises $4M From Polychain, Naval Ravikant and...
The decentralized information marketplace, currently in beta, said the investment will help it improve the user experience.
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Polymarket is believed to have hired CTFC enforcement head James McDonald to handle the probe. New York-based decentralized prediction market Polymarket has come under investigations from the United States Commodity Futures Trading Commission (CFTC).According to an Oct. 23 report from Bloomberg citing anonymous sources, the CFTC is investigating whether Polymarket is allowing its customers to trade binary options and swaps that should be registered with the financial regulator. The CFTC is yet to confirm whether it is investigating Polymarket.A spokesperson for the platform stated:....
Amid the election excitement, decentralized predictions site Polymarket has become the fourth-highest blockchain project by fees generated.
“All derivatives markets must operate within the bounds of the law regardless of the technology used,” said Acting Director of Enforcement Vincent McGonagle. New York-based crypto predictions platform Polymarket has reached a settlement with the Commodity Futures Trading Commission (CFTC) to pay a fine of $1.4 million. Polymarket is a decentralized platform that enables users to bet on the outcomes of event markets such as pro-sports games and political elections via binary options contracts. On Jan. 3, the CFTC announced that it had entered an order filing and simultaneously settling....
According to the latest reports, crypto-based prediction platform Polymarket is preparing for a new funding round that could see its valuation rise to $10 billion. This move to raise additional capital comes as the company prepares to relaunch in the United States. On September 3, Polymarket CEO Shayne Coplan revealed on the social media platform […]
OpenSea’s CEO, Devin Finzer, announced a successful funding round. Led by investment first a16z, with participation from Mark Cuban, Naval Ravikant, Tim Ferris, 3LAU, Standard Crypto, and others, the Non-fungible token (NFT) marketplace raised $23 million. The platform was founded in 2017 under the prospect of building a new internet economy. OpenSea has been at […]