You Won’t Believe What Happened to Polymarket – A Twist in the Crypto Tale! 🤯

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Well now, it seems the U.S. authorities have decided to close the curtain on their investigations into that fancy crypto-betting contraption known as Polymarket, a sign that perhaps regulations are shifting faster than a cat can lick its paw under the auspices of the Trump administration.

Bloomberg reports—oh, bless their heart—that the U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) have formally thrown in the towel this month, notifying Polymarket that their prying eyes have turned elsewhere. The investigations, which got hotter than a pepper sprout towards the end of the Biden administration, were on the lookout for whether Polymarket was allowing good ol’ American folks to gamble with crypto assets by way of technical sleight of hand like VPNs. All this, potentially violating a 2022 settlement that instructed them to keep U.S. traders out like a bouncer at an exclusive club.

The ending of these inquiries coincides with a wider dance in Washington aimed at drumming up some crypto-friendly policies, including some rather intriguing pending legislation. Oh dear, some industry advocates are calling it “Crypto Week”, as if crypto was some sort of holiday where the more you gamble, the merrier! Polymarket, which racked up a staggering $2.6 billion in trading volume back in November—mostly betting on elections, mind you—may now have its eyes set on a proper return to the U.S. scene, perhaps with some CFTC registration to ensure they’re playing by the rules this time. And just when you thought it couldn’t get any more interesting, the platform secured funding led by Peter Thiel’s Founders Fund and has joined forces with none other than Elon Musk’s X. Who would’ve thought? 🔮💸

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2025-07-15 20:57