Trump Administration Ends Polymarket Investigation…A Tailwind for the Virtual Asset Betting Industry
Summary
- It has been reported that the U.S. government officially notified Polymarket of the end of the investigation.
- It was stated that the Trump administration's policy to foster the virtual asset industry and its move towards regulatory relaxation formed the background of this decision.
- The conclusion of the investigation is expected to serve as a positive signal for virtual asset-based prediction markets and betting industries, including Polymarket.
The U.S. government's investigation targeting the blockchain-based prediction market platform 'Polymarket' has been officially concluded. This move is interpreted as part of the Trump administration's proactive policy to foster the virtual asset (cryptocurrency) industry.
On the 15th (local time), Bloomberg reported, citing anonymous sources, that the United States Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) recently notified Polymarket of the conclusion of their investigation.
The investigation was intensified in the final days of the Joe Biden administration, during which authorities conducted an inquiry on the grounds that Polymarket's operation of political and financial prediction markets could constitute illegal futures trading.
However, following President Trump's inauguration, as efforts to ease regulations on virtual assets became more apparent, it appears that the investigation has also effectively been withdrawn.
This development is expected to serve as a positive signal not only for Polymarket, but also for the overall virtual asset-based prediction market and betting platforms.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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