The Polymarket betting exchange is no longer persecuted in the United States - now a legal comeback is possible
The story, which began as a possible sentence for the betting platform, turned into an unexpected (but quite symbolic) rebirth. The investigation against Polymarket, initiated in the last days of Joe Biden's presidency, has been officially closed. This is reported by Bloomberg, citing sources close to the case. Apparently, the authorities simply did not want to drag the old story into the new political season.
Recall that the problem was that Polymarket allowed US residents to bet on political and social events, despite the fact that such platforms are formally considered illegal under local laws. Polymarket made itself especially loud in the midst of the presidential race: millions of dollars were bet on the chances of candidates, the outcome of the election, the victory of Democrats or Republicans An unofficial barometer of sentiment – and that, according to some, could not please the authorities.
It was not without drama: the house of the founder of Polymarket, Shane Coplan, was raided with a search. Many perceived this as an act of pressure – if not political, then certainly demonstrative. But, despite this, the project not only survived, but grew. Today, Polymarket is already a "unicorn", a company with a valuation of over $1 billion.
There are rumors that now Polymarket may return to the market as a legal player. In an environment where Web3, decentralization, and smart contracts are slowly but surely making their way into the mainstream, the idea of a legal prediction exchange no longer sounds like a utopia.
Americans love freedom, the market, and democracy — it seems that all this can now be put on the line again. And yes, as they say on Polymarket: if it's not forbidden, it's on.
celese Haha, classic! First they screwed over the players, then the license turned out to be fake, and now they’re trying to undo everything. A total circus. Yeah, everything will just get bought. They’ll pay whoever they need in Curaçao and get a new license. Money rules everything, especially in this industry.
Mangarin4ik The section about how casinos fire VPNs is a gun. I've never thought about WebRTC and the time zone. Author, thank you, you may have just saved my next deposit.
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Politics is politics, and $1 billion is already significant. I think there will be investors to continue pumping the project.
By the way, I bet on the elections on Polymarket. I won a little more than 300 bucks then
There was so much noise, but in the end everything was as usual - at first a demonstrative show, then they quietly leaked the case. Welcome to USA
And you said "it will not survive". Not only did it survive, but it also made a profit. Beautiful.
Politics is politics, and $1 billion is already significant. I think there will be investors to continue pumping the project.