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Crypto Regulators Are Freaking Out Over Polymarket’s Wild Bet on Trumps Re-Election – You Won’t Believe Who’s Getting Slaughtered

A  illustration of two people from different countries, one holding a large bet slip with Donald Trump's face on it and the other holding Kamala Harris' face, both looking at each other suspiciously through a VPN connection in between them.

Politicians and regulators are finally starting to get their act together when it comes to crypto, but only because they’re worried about being skewered on live TV like a bunch of sheep in a hailstorm – Polymarket is scanning for US users as election odds favor Trump. A platform that’s essentially betting on the outcome of an event (the presidential election) without any real-world value or intrinsic worth has somehow managed to attract whales who are willing to shell out millions, and now they’re getting called out for it.

Source: cointelegraph

Crypto predictions platform Polymarket is reportedly checking to ensure whales placing big bets on the United States presidential election are based overseas, as US users are banned from the platform. “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,” a report from Bloomberg said on Oct. 22, citing a person familiar with the matter. […]

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