CFTC Investigates Polymarket The Commodity Futures Trading | DeFi Check
CFTC Investigates Polymarket
The Commodity Futures Trading Commission (CFTC) is investigating Polymarket to see if the market forecasting platform allows customers to mistakenly trade swaps or binary options and whether it should be registered with the agency, Bloomberg reported, citing people familiar with the matter.
The company, which has facilitated about 4 billion shares since it began operations last year, is negotiating a new round of financing that could value the platform at nearly $1 billion, Bloomberg said, citing two people with knowledge of the matter.
New York-based Polymarket has hired a former head of the CFTC's law enforcement division to handle the investigation. At this point, the CFTC declined to comment on anything.
DeFi entrepreneurs have long argued that smart contract interfaces should not be controlled like centralized exchanges.
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