Polymarket users actively wagered on the U.S. Senate confirmations of Trump's nominees, including key pro-crypto positions.
Polymarket and Trump’s Appointments
Users showed significant interest in pro-crypto hedge fund manager Scott Bessent's appointment as Treasury Secretary. This position might influence crypto privacy discussions like the Tornado Cash case. However, not all crypto-focused nominees, such as Paul Atkins, were proposed.
Platform Popularity
Polymarket became one of the most popular prediction markets after accurately predicting Trump's election. Polymarket data was even integrated into Bloomberg's election terminal. However, the platform later faced restrictions imposed by French authorities.
Legal Issues and Restrictions
Polymarket encountered several legal issues, including a ban in France and an FBI raid at founder Shayne Coplan's residence. Despite allegations of violating U.S. laws, the platform remains a major blockchain-based prediction market.
Polymarket continues to be a significant platform for blockchain predictions despite legal challenges and international restrictions. These events showcase the impact of technology on political and economic processes.
