Senators urge CFTC to probe Polymarket over fake ad claims

Senators are seeking answers from the CFTC about recent allegations of deceptive marketing from Polymarket.

Senators Adam Schiff and John Curtis sent a letter to CFTC Chair Michael Selig Thursday asking whether the agency is investigating Polymarket's paid influencer scheme, putting the regulator in a bind over a platform it licenses but whose staged trades ran on an offshore site beyond its direct reach.

The regulatory agencies are seeking public feedback on cross-margining, collateral and risk management as cryptocurrency derivatives and multi-asset trading continue to expand.

The Securities and Exchange Commission and Commodity Futures Trading Commission have launched a joint review of crypto derivatives regulations, opening a 60-day public comment period following the approval of U.S. crypto perpetual futures. According to a joint press release, the…

A group of 17 Democratic senators went after the CFTC’s funding for lawsuits over prediction markets, calling it an “assault” on state authorities.

The investigation could reshape regulatory oversight in prediction markets, impacting transparency and trust in the broader crypto ecosystem. The post Senators call for federal investigation into Polymarket’s deceptive advertising appeared first on Crypto Briefing.

Harmonizing portfolio margining frameworks could streamline compliance, reduce costs, and enhance capital efficiency for market participants. The post SEC and CFTC seek public comment on harmonizing portfolio margining frameworks appeared first on Crypto Briefing.

Polymarket's rapid revenue growth highlights the increasing competitiveness and regulatory evolution in the US prediction market sector. The post Polymarket surpasses $1B annualized revenue six weeks after US launch appeared first on Crypto Briefing.