The U.S. Securities and Exchange Commission (SEC), known for suing companies and projects in the cryptocurrency sector, has remained in the minds of many as the only financial regulator of the United States. However, there is another regulator with equal powers in the United States, which also looks after the financial sector. there is.
US Commodities and Futures Commission (CFTC), Although he did not make a name for himself in the crypto money industry, he may have opened an investigation into a crypto money company.
Polymarket May Be Investigated
New York-based decentralized forecasting platform Polymarket has allegedly been under investigation by the CFTC.
According to information reported by Bloomberg on October 23, the CFTC is currently investigating whether Polymarket supports options trading or swaps. These are trading operations in the USA that are licensed directly from the CFTC and the situation seems a little bad for Polymarket.
Although the CFTC has not yet made an official statement on this issue, the company spokesperson made a statement on the subject.
A spokesperson for Polymarket stated that the project is obliged to comply with all laws and they will do so, but did not provide information about the investigation. In addition, Polymarket is reported to have recently added one of the former executives of the CFTC to the company.
James McDonald, one of Sullivan & Cromwell’s partners, may have been brought in to solve this.
Although Augur has entered the market with a similar concept before, Polymarket’s being based in New York seems to be changing things.