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Big news out of Polymarket – the digital betting platform dodged a major bullet as the Department of Justice and the Commodity Futures Trading Commission closed their investigations, sources say.
This is a huge win for Polymarket. The scrutiny was intense ever since 2024 when bettors flocked to put money on who would win the election. It even had to cough up $1.4 million to settle with the CFTC back in 2022. And we all remember the drama when federal agents raided founder Shayne Coplan’s home last November, taking his devices. Coplan and the company aren’t commenting on the reports.
But it looks like the heat is off, just when Polymarket is trying to raise $200 million. Talk about good timing! The change in tune may have something to do with the Trump administration taking a lighter touch on crypto lately, especially with companies tied to his campaign. And his nominees aren’t exactly looking ready to crack down.
This could be a new chapter for prediction markets in the US. For years they’ve been stuck in regulatory limbo, not exactly illegal but not fully legal either. That uncertainty has kept bigger players like Polymarket kind of lurking in the shadows.
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