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Polymarket faces legal action or fine by CFTC by May 2025?
5
Polymarket•Founders Fund•Ethereum•Vitalik Buterin•1confirmation•ParaFi•Dragonfly•General Catalyst•Polychain•CFTC
Resolution / Starting Odds
Yes • 50%
No • 50%
CFTC announcements or major legal news outlets
Story
Polymarket Raises $70 Million With Backing From Peter Thiel and Vitalik Buterin
May 14, 2024, 03:00 PM
Decentralized prediction market Polymarket has successfully raised $70 million across two funding rounds. The most recent round, a $45 million Series B, was led by Founders Fund and included participation from Ethereum co-founder Vitalik Buterin, 1confirmation, ParaFi, and Dragonfly. The earlier $25 million Series A round was led by General Catalyst and included Polychain and other investors. This funding 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, which focuses on elections and other prediction markets, has faced challenges, including a fine from the CFTC in 2022. The company has no revenue yet.
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Similar markets
Yes, Polymarket scales back its operations • 50%
No, Polymarket continues its operations as usual • 50%
Yes, Polymarket secures additional funding • 50%
No, Polymarket does not secure additional funding • 50%
Polymarket expands globally • 50%
Polymarket does not expand globally • 50%
New high-profile investors join • 50%
No new high-profile investors • 50%
Polymarket remains a leading platform • 33%
Polymarket loses significant market share • 33%
Polymarket ceases operations • 34%
Fines imposed • 33%
Operational restrictions imposed • 33%
No significant penalties • 34%
United Kingdom • 20%
Germany • 20%
Canada • 20%
Australia • 20%
Singapore • 20%
