Polymarket faces US probe as Kalshi exec allegedly fuels wash-trading concerns
Crypto-powered prediction market Polymarket and its founder are facing heat from US regulators for potentially serving American customers, while an employee at its competitor Kalshi appears to be echoing wash-trading allegations. According to Bloomberg, the DoJ is investigating Polymarket for allegedly accepting bets from US-based customers. Punters on the platform appeared to overwhelmingly favor Donald Trump to win the election, putting Polymarket at odds with mostly even-keeled projections. The FBI has reportedly raided the home of its 26-year-old chief exec, Shayne Coplan, and seized his phone. Coplan was not arrested, and appeared to be relatively unphased by the event. On X, he wrote, “New phone, who dis?” polymarket cooked with this one https://t.co/lZwoFsRJqL pic.twitter.com/WU2Uo5hQlH — Arnold Bernault (@ahitposter) November 13, 2024 Coplan’s customers come through. Read more: Trump discovered he was winning via Polymarket, says CE...