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#Polymarket

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CFTC Moves to Regulate Event Contracts as Swaps Amid Ongoing Legal Battles
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CFTC Moves to Regulate Event Contracts as Swaps Amid Ongoing Legal Battles

Key Highlights: The CFTC has introduced an “interim final” rule taking immediate effect alongside a proposed framework targeting event contracts on platforms such as Kalshi and Polymarket. The proposed rule formally integrates “event contracts, including those based on sports, politics, cultural, and weather-related events” into established U.S. swaps regulations under a 30-day public comment window. ...

Polymarket Announces Protocol V2 Launch, Targeting Full Decentralization
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Polymarket Announces Protocol V2 Launch, Targeting Full Decentralization

Key Highlights: Polymarket is launching Protocol V2, replacing its legacy 2019 Gnosis CTF architecture with a complete mainnet transition scheduled for November 2. The upgrade consolidates markets into a single ERC-1155 position contract, adopts pUSD as collateral, and utilizes a multi-oracle aggregator featuring UMA and Chainlink. Following formal verification by Certora and extensive auditing, testing ...

Polymarket Announces Launch of Protocol V2
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Polymarket Announces Launch of Protocol V2

Key Highlights: Polymarket is transitioning to Protocol V2, with a full mainnet switchover scheduled for November 2. The upgrade replaces the 2019 Gnosis CTF architecture with a single ERC-1155 contract, pUSD collateral, and a multi-oracle aggregator including UMA and Chainlink. Canary market testing runs from October 5 to October 30 following audits and formal verification ...

Galaxy Research Finds 7 in 10 Polymarket Retail Traders Lost Money
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Galaxy Research Finds 7 in 10 Polymarket Retail Traders Lost Money

Key Highlights: A Galaxy study reveals that generalists on Polymarket slightly outperform topic specialists, with tech and science traders yielding the highest profitability rates while sports specialists recorded the lowest. Profitable prediction market accounts typically exhibit higher trade frequencies and larger position sizes, though risk is adjusted downward after both wins and losses. Polymarket faces ...

The $71B Mess: How Prediction Markets Became the US Supreme Court’s Problem
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The $71B Mess: How Prediction Markets Became the US Supreme Court’s Problem

Key Highlights: The International Association of Gaming Regulators (IAGR) and North American Gaming Regulators Association (NAGRA) have backed New Jersey’s formal appeal asking the Supreme Court of the United States (SCOTUS) to review whether state gambling laws apply to prediction markets. Conflicting judicial rulings across Illinois, New Jersey, Wisconsin, Ohio, and Tennessee have produced a ...

New York Sues Polymarket, Accusing Prediction Market of Illegal Gambling
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New York Sues Polymarket, Accusing Prediction Market of Illegal Gambling

Key Highlights New York Attorney General Letitia James and Governor Kathy Hochul filed a lawsuit Thursday accusing Polymarket of operating an unlicensed gambling business in violation of state law. The complaint alleges Polymarket avoided licensing requirements and taxes that fund public schools, youth sports, and problem gambling treatment, while allowing users aged 18 to 20 ...

U.S. Regulator Warns of Cheating Risks in ‘Mention Markets’ on Prediction Platforms
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U.S. Regulator Warns of Cheating Risks in ‘Mention Markets’ on Prediction Platforms

Key Highlights The CFTC issued a staff advisory warning that “mention markets” β€” betting on what a specific individual might say or do β€” are “presumptively readily susceptible to manipulation.” The regulator distinguishes these markets from standard event contracts because outcomes depend on “the discrete conduct of a named person” rather than independently generated, externally ...

Polymarket $10 Million Fraud Scare Tests Whether Growth Outran Compliance
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Polymarket $10 Million Fraud Scare Tests Whether Growth Outran Compliance

Key Highlights Polymarket faced a $10 million fraud attempt in February involving stolen debit cards and an 80% deposit rejection rate, prompting the resignation of its U.S. compliance chief and the firing of the U.S. division CEO and other compliance executives. Despite the fraud episode and ongoing CFTC investigations into potential insider trading on events ...

Bitwise CIO: Bitcoin Rally Could Continue Unless Debt Concerns Ease
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Bitwise CIO: Bitcoin Rally Could Continue Unless Debt Concerns Ease

Bitcoin Price Rally Driven by US Debt Concerns, Not Crypto Regulation, Says Bitwise CIO Matt Hougan Bitcoin’s recent price surge appears to be fueled primarily by mounting concerns over the United States fiscal outlook rather than progress on cryptocurrency-specific legislation, according to analysis from Bitwise Chief Investment Officer Matt Hougan. Inverse Correlation Between Regulatory Odds ...

Bitwise CIO: Bitcoin Rally May Persist Unless Debt Concerns Subside
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Bitwise CIO: Bitcoin Rally May Persist Unless Debt Concerns Subside

Bitwise Chief Investment Officer Matt Hougan suggests Bitcoin’s price rally could persist while U.S. debt concerns remain unresolved, pointing to a divergence between crypto regulatory expectations and actual market performance. In a post on social platform X, Hougan shared a chart tracking the relationship between legislative odds and Bitcoin’s price action from July 1 to ...

CFTC Probes Polymarket Trades Linked to Biden Pardons, Iran, Google, Report Says
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CFTC Probes Polymarket Trades Linked to Biden Pardons, Iran, Google, Report Says

CFTC Opens Three Insider Trading Investigations Into Polymarket The Commodity Futures Trading Commission has launched at least three previously unreported investigations into suspected insider trading on the prediction market platform Polymarket, according to a report from WIRED. The probes target event contracts tied to presidential pardons issued by former President Joe Biden, Iran-related geopolitical outcomes, ...

Riot Games Holds Sponsorship Talks With Polymarket, Kalshi
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Riot Games Holds Sponsorship Talks With Polymarket, Kalshi

Riot Games Explores Prediction Market Sponsorships Ahead of League of Legends World Championship Riot Games has entered discussions with prediction market operators Kalshi and Polymarket regarding potential esports sponsorship agreements, according to a Bloomberg report published on September 11. The talks come weeks before the League of Legends World Championship kicks off in October. Riot ...