Polymarket Cracks Down on US-Based Users as Whale Bets on Trump

Cryptocurrency-based predictions market Polymarket is conducting fresh checks to verify that big spenders on its platform are based outside of the US, since people in that country aren’t allowed to trade on the website that has seen a surge in bets favoring Donald Trump to win the presidential election.

Polymarket is in the process of re-checking the details of users of its platform, particularly those making large wagers, to ensure compliance with its rules, said a person familiar with the matter who asked not to be named discussing internal matters.

WATCH: Former FDIC Chair and Cravath, Swaine & Moore Partner Jelena McWilliams discusses cryptocurrency-based predictions markets in relation to the US election. Source: Bloomberg

Scrutiny of Polymarket’s US political ...

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