New York-based crypto forecasting platform Polymarket has reached an agreement with the Commodity Futures Trading Commission (CFTC) to pay a $ 1.4 million fine.
Polymarket is a decentralized platform that allows users to bet on the results of event markets, such as sports games and political elections, through binary options contracts.
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On January 3, the CFTC announced that it had entered an order for the simultaneous filing and settlement of charges against Polymarket, considering that the platform had operated an “unregistered or undesignated illegal facility” since June 2020.
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