Polymarket, a leading decentralized prediction platform, is under fire after an alleged governance attack led to a controversial market resolution. A large UMA token holder (so-called whale) reportedly manipulated the voting process to secure profits. This left many traders questioning the integrity of the system. The dispute centered on a
Thailand’s cybercrime authorities plan to propose banning Polymarket. The decentralized prediction marketplace facilitates betting on global events using cryptocurrencies. Authorities believe this may qualify as illegal online gambling under Thai law. At a press briefing on Tuesday, Thailand’s cybercrime investigation bureau emphasized the urgency of restricting Polymarket. Officials stated the
Singapore has officially banned Polymarket, labeling it an illegal gambling platform. The restriction follows the country’s stringent Gambling Control Act 2022, prohibiting unauthorized online betting activities. Visitors to Polymarket’s site in Singapore now face a warning from the Gambling Regulatory Authority (GRA), stating potential penalties of up to $10,000, six
The free speech controversy has been going on for a while, since the US elections. Industry leaders and officials such as Elon Musk, Brian Armstring, and Mark Zuckerberg expressed their views on this issue several times on social platforms. On similar grounds, the US DOJ investigated Polymarket for allowing US
The crypto market is getting accustomed to being mind-blown every few days as Bitcoin continues on its upward rally. In the last few hours, the cryptocurrency has rallied to a new ATH of $93,434. Meanwhile, amid positive incidents within the sector, Polymarket’s CEO, Shayne Coplan, faced regulatory scrutiny. The betting
Ethereum co-founder Vitalik Buterin is expanding the views of prediction markets in his latest article, “From Prediction Markets to Info Finance.” In it, he explores how these markets can be more than just tools for betting—they can transform how we gather and trust information. From prediction markets to info finance:https://t.co/Os5I1vocNn
The blockchain-based prediction market platform Polymarket, known for its role in the U.S. presidential elections, is facing mounting scrutiny from French gambling authorities. The national gambling authority of France, Autorite Nationale des Jeux (ANJ), reportedly plans to ban Polymarket. It cites the platform’s operations as unlicensed gambling, which is prohibited
High levels of interest in the 2024 US presidential election and Middle Eastern geopolitical events drove September’s trading volume of $533.51 million on the blockchain-based prediction platform Polymarket. Moreover, this is an increase of $61.51 million over August’s $472 million, as reported by Dune Analytics. Also, the number of active
Ethereum co-founder Vitalik Buterin has stepped in to defend Polymarket, a decentralized prediction market, following criticism over its betting options related to the ongoing conflict in the Middle East, particularly concerning Hezbollah. The platform features bets on significant events, such as potential Israeli military actions and ceasefires, which some critics
Polymarket, a blockchain-based prediction market, is reportedly in discussions to secure over $50 million in new funding, as reported by The Information. The platform is also exploring the possibility of launching a dedicated token, which could enhance its betting market functionality. If successful, this token is anticipated to be a
