NPR investigates Polymarket's elusive Panama headquarters after prediction market's U.S. regulatory shutdown
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26d ago· 9 min readenNews
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Summary
NPR investigates the official corporate headquarters of Polymarket, a $15 billion prediction market platform, in Panama City. The article details how Polymarket relocated to Panama after being shut down by U.S. regulators in 2022, benefiting from tax advantages and legal protections. The investigation reveals that the company's registered address in a Punta Pacifica skyscraper is elusive and difficult to verify, raising questions about transparency and accountability for the platform's users who must agree to closed-door arbitration in Panama for legal disputes.
Key quotes
· 3 pulledOn the 21st floor of a gleaming skyscraper in the heart of the upscale Punta Pacifica neighborhood here is the official corporate office of Polymarket
Polymarket, which is worth an estimated $15 billion, moved to its Panama base following scrutiny from American regulators.
If Polymarket users have a legal dispute, the company's terms of service states it will be resolved in a closed-door arbitration process in Panama
The hugely popular prediction market was shut down by U.S. regulators in 2022 and re-opened in Panama, where it has benefited from tax and legal benefits for years.
