The cryptocurrency world is marking the end of two investigations into the platform Polymarket following Donald Trump’s return to the White House. These investigations were initiated in the final days of the Biden administration.
Closure of Investigations
Sources indicate that the U.S. Department of Justice and the Commodity Futures Trading Commission (CFTC) informed Polymarket about the closure of their investigations. This decision is seen as a positive sign for the crypto community.
History of Polymarket
Polymarket gained significant attention during the 2024 election cycle when users employed cryptocurrency to predict political outcomes. This led to an investigation regarding the platform's compliance with a previous agreement with federal regulators.
Future of the Platform
The closure of these investigations could pave the way for Polymarket to officially return to the U.S. market, possibly through registration with the CFTC as a futures exchange or acquisition of a licensed company. The platform has also announced a partnership with social media and continues to raise capital through new investment rounds.
Thus, the end of these investigations creates favorable conditions for Polymarket's further development, potentially impacting the regulation of the cryptocurrency industry in the U.S.
