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Outcome of the regulatory scrutiny facing Polymarket by the end of 2024
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Polymarket•Founders Fund•General Catalyst•Ethereum•Vitalik Buterin•Peter Thiel•1confirmation•ParaFi•Dragonfly•Polychain•Joe Gebbia•CFTC•US•Marc Hochstein
Resolution / Starting Odds
Fines imposed • 33%
Operational restrictions imposed • 33%
No significant penalties • 34%
Official statements from regulatory bodies or court decisions
Story
Polymarket Raises $70 Million, Including $45 Million Series B, Amid Regulatory Scrutiny
May 14, 2024, 02:53 PM
Decentralized prediction market Polymarket has completed a $45 million Series B round of financing, led by Founders Fund, bringing its total funding to $70 million across two rounds. The Series A round was led by General Catalyst. Notable investors include Ethereum co-founder Vitalik Buterin, Peter Thiel's Founders Fund, 1confirmation, ParaFi, Dragonfly, Polychain, and Joe Gebbia. The new investment comes amid regulatory scrutiny, with the US Commodity Futures Trading Commission proposing a ban on trading derivatives betting on political contests and sports games. Polymarket was previously fined by the CFTC in 2022, restricting its operations in the US. The platform focuses on elections and has no revenue yet. Marc Hochstein reports.
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Additional fines and penalties • 33%
Settlement without fines • 33%
Complete exoneration • 33%
Yes, Polymarket scales back its operations • 50%
No, Polymarket continues its operations as usual • 50%
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Polymarket ceases operations • 34%
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Minor compliance issues found • 34%
Major compliance issues found • 33%
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More companies fined • 25%
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Increased market monitoring • 25%
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Negotiated settlement • 25%
Investigation extended • 25%
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Both regulations and penalties imposed • 25%
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