CFTC Investigates Prediction Market Company Polymarket
The Commodity Futures Trading Commission is conducting an "extensive" probe into prediction market company Polymarket, Politico's Declan Harty reports, citing a person familiar with the matter, who added that the subject of the investigation was not immediately clear. The move comes amid mounting concern in Washington about the fast-growing prediction market space, the author notes. "We are part of a rapidly growing industry and are constantly evaluating ways to improve how we're engaging and earning the trust of our audience," Polymarket Deputy Chief Legal Officer Olivia Chalos said in a statement, not commenting on any investigation. "As part of that commitment, we are conducting a comprehensive audit of active promotional content to ensure it complies with our standards, as well as applicable regulatory and legal disclosure requirements." Publicly traded companies in prediction markets include DraftKings (DKNG), Flutter (FLUT), and CME Group (CME).
