Live Feeds
● LIVE Updated 1d ago · 13 sources tracked

Regulators Are Investigating Polymarket, Reports Say—As Senators Demand A Federal Probe

The Commodity Futures Trading Commission is probing Polymarket for deceptive advertising and fabricated trading wins. US Senators John Curtis and Adam Schiff requested a federal probe via a June 25 letter to CFTC Chairman Michael S. Selig. The investigation follows reports that the platform paid influencers to simulate betting activity.

RSS Source map (13)

What changed

The CFTC investigation has expanded to include staged trades and fake wins following a Wall Street Journal report.

Live updates

  1. CFTC Investigates Polymarket Over Deceptive Marketing and Staged Trades

    The Commodity Futures Trading Commission is probing Polymarket for deceptive advertising and fabricated trading wins. US Senators John Curtis and Adam Schiff requested a federal probe via a June 25 letter to CFTC Chairman Michael S. Selig. The investigation follows reports that the platform paid influencers to simulate betting activity.

    What's confirmed:

    • The CFTC is conducting an investigation into Polymarket.
    • Senators John Curtis and Adam Schiff sent a letter to CFTC Chairman Michael S. Selig on June 25 requesting an investigation into Polymarket.
    • Lawmakers are calling for a federal probe based on allegations of deceptive advertising and marketing.
    • The CFTC probe involves allegations of staged trades and fake wins.
    • Polymarket previously reached a $1.4M settlement in 2022.

    Still unconfirmed:

    • Polymarket is facing a consumer lawsuit over a fake-trade influencer scheme.
    • The Wall Street Journal investigation identified .9M in fake bets.
    confidence 90%