CFTC Is Scrutinizing Offshore Betting Platforms With US Traders

A top financial regulator is closely monitoring offshore, unregulated companies that allow Americans to trade on US election outcomes.

“We are observing any activity that’s occurring offshore and providing exposure to US customers,” Rostin Behnam, chairman of the US Commodity Futures Trading Commission, said Tuesday at a conference hosted by Georgetown University’s Psaros Center for Financial Markets and Policy.

Behnam was asked what the agency intended to do about Polymarket, a crypto-betting platform with about $1 billion in trading volume tied to dozens of US election outcomes. “If anyone, Polymarket or otherwise, conducts themselves in a way ...