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Singapore and CFTC zero in on Polymarket as wildfire bets fuel public outcry – crypto.news

How did a crypto gambling platform become a global controversy, attracting criticism from Singapore and the FBI, and angering users? Polymarket implementation troubles Singapore shines as a leading hub for technology and innovation. However, when it comes to gambling, the city-state takes a noticeably conservative approach. This dichotomy was most recently brought to light on […]

Polymarket FBI raid shows Biden Justice Department has gone full banana republic

The Biden Justice Department has decided to continue its original approach of wielding it as a blunt weapon against perceived political opponents. At least that seems to be the case with the FBI raid on Polymarket CEO Shane Coplan. At 6 a.m. Wednesday, agents entered his home and demanded his cellphone and other devices. why? […]

FBI raided home of Polymarket CEO over alleged illegal bets by US users: sources

The FBI's shocking pre-dawn raid on the founder of election gambling site Polymarket turned out to be part of a criminal investigation into whether the company accepted bets from US users. This would violate the agreement the company had with the government. The Justice Department ordered a “court-authorized law enforcement operation” at Shane Coplan's Manhattan […]

Polymarket at center of political storm after reported FBI raid 

Predictive betting market Polymarket and its founder and CEO Shane Coplan are at the center of a debate over political gambling after the FBI reportedly searched Coplan's home on Wednesday. I noticed that there was. The FBI raided Koplan's New York City apartment early Wednesday morning and seized his cellphone and other electronic devices, according […]

Polymarket ‘whale’ earned $85M on Donald Trump win

A French “whale” that bet millions of dollars on Trump's victory made a profit of about $85 million, more than $50 million more than previously reported, according to the report. The anonymous gambler, known as Theo, was previously believed to be operating four separate accounts on Polymarket, the online betting platform that sold contracts for […]

Polymarket plans to return to US after predicting Trump win

Election betting platform Polymarket plans to return to the US following its success in accurately predicting President-elect Donald Trump's landslide victory over Vice President Kamala Harris in the White House. Polymarket is currently available only to customers outside the United States. Among them is the infamous French “whale” trader who bet millions of dollars on […]