CFTC launches investigation into prediction market Polymarket
By
Davis Giangiulio
Summary
The Commodity Futures Trading Commission (CFTC) is conducting an ongoing, extensive investigation into prediction market platform Polymarket, according to a source familiar with the inquiry. The investigation follows a Wall Street Journal report about Polymarket's misleading marketing campaign, where content creators were made to appear as though they were winning on the platform without actually risking their own money. Both the CFTC and Polymarket declined to comment. This probe comes after the CFTC and Department of Justice dropped previous inquiries into Polymarket last July.
Source
bskyCFTC launches investigation into prediction market Polymarketcnbc.comKey quotes
· 3 pulledThe Commodity Futures Trading Commission has an ongoing, extensive investigation into prediction market platform Polymarket, according to a person familiar with the inquiry.
A spokesperson for the CFTC and another for Polymarket both declined to comment.
News of the investigation comes more than a week after a Wall Street Journal story revealed that Polymarket conducted a misleading marketing campaign, making content creators appear as though they were winning on the platform when in reality they weren't putting any money down.
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