According to market sources, the U.S. Department of Justice has concluded its investigation into the prediction platform PolyMarket, marking a victory for cryptocurrency betting during the U.S. presidency of Donald Trump. (Golden Ten) [Odaily Planet Daily News]

On July 16 (UTC+8), the United States Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) officially concluded their investigation into the crypto prediction platform Polymarket, meaning that the Polymarket case, which was previously under key investigation for involving election betting, has come to an end. Polymarket's CEO, Shayne Coplan, stated that although the FBI raided his home eight months ago, after actively cooperating with the investigation, the company has been found to have no misconduct, saying "justice has been served." Analysis indicates that this result is also in line with the Trump administration's promotion of the development of the crypto industry. (Source: X Platform) [MetaEra]

DOJ and CFTC End Investigation into Polymarket, Crypto Prediction Platform Emerges from the Shadows

The U.S. Department of Justice and Commodity Futures Trading Commission have concluded investigations into Polymarket, a crypto prediction platform, for allegedly allowing U.S. citizens to use its services without proper registration. Polymarket had previously reached an agreement with the CFTC in 2022.

Justice Department and CFTC Drop Polymarket Investigations, Firm Says

With investigations from two major US agencies now closed, Polymarket has reached a critical regulatory milestone ahead of its $200 million funding round.

US DOJ, CFTC end investigations into Polymarket — Report

A U.S. Justice Department probe into the predictions market Polymarket has come to a close, according to a report from Bloomberg.

Polymarket received formal notice earlier this month from both the Justice Department and the Commodity Futures Trading Commission that their investigations had ended, Bloomberg reported on Tuesday, citing a person with direct knowledge of the matter.

In November 2024, Bloomberg reported that Polymarket CEO Shayne Coplan was facing a Department of Justice probe. The Federal Bureau of Investigation had also seized Coplan's phone and electronics, according to a report from the New York Post, citing an anonymous source.

Lawyers for the CFTC and the DOJ were looking into whether Polymarket was accepting "wagers from people in the US using virtual private networks or other means to bypass the company’s controls," according to Bloomberg.

In 2022, Polymarket settled with the CFTC for allegedly offering illicit binary options contracts. In return, it agreed to pay a $1.4 million fine, wind down its non-compliant markets, and take preventative steps to block U.S. users on an ongoing basis.

The DOJ and CFTC did not immediately respond to a request for comment from The Block.

Polymarket hit $1.16 billion monthly volume in June, but its active trader count saw a 9.4% month-over-month decline, with just over 242,000 traders. Last month, Polymarket was set to close a $200 million fundraise at a $1 billion valuation, according to a report from The Information. [Bloomberg]

US Justice Department and CFTC close probes into Polymarket: Bloomberg

Two U.S. federal investigations into the crypto prediction market platform Polymarket have now been officially halted. Sources familiar with the matter revealed that the U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) issued formal notices to Polymarket earlier this month, confirming the end of the investigations. Previously, the platform gained attention for users betting on election results, and its founder was raided by the FBI after the 2024 election. [Bloomberg]

Bloomberg: U.S. Justice Department Ends Investigation into Polymarket

According to Jinshi, market sources say that the U.S. Department of Justice has ended its investigation into the prediction platform PolyMarket, marking a victory for cryptocurrency betting during the U.S. presidency of Donald Trump. [ChainCatcher]

The U.S. Department of Justice Ends Investigation into Prediction Platform PolyMarket

On July 15, according to Jinshi, the US Department of Justice has ended its investigation into the prediction platform PolyMarket. [PANews]

US Department of Justice closes investigation into prediction platform PolyMarket

On July 15, according to market news, the U.S. Department of Justice has concluded its investigation into PolyMarket. [TechFlow]

Market news: The U.S. Department of Justice ends investigation into PolyMarket

On July 15, Bloomberg reported that the U.S. Department of Justice ended its investigation into the prediction platform Polymarket during the Trump administration. [BlockBeats]

The U.S. Department of Justice Ends Investigation into Polymarket

July 15th, According to market sources, during the Trump administration, the U.S. Department of Justice closed its investigation into Polymarket. [BlockBeats News]

The US Department of Justice Concludes Investigation into Polymarket

According to Bloomberg, the U.S. Department of Justice has concluded its investigation into Polymarket. [Foresight News]

The cryptocurrency world has scored another victory following Donald Trump's return to the White House. Two separate investigations into crypto prediction platform Polymarket, which intensified in the final days of the Biden administration, were closed under Trump. A source familiar with the matter revealed that the US Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC) informed Polymarket earlier this month that their investigations had ended. Polymarket gained significant traction during the 2024 election cycle when users used cryptocurrency to predict political outcomes. However, this popularity sparked investigations into whether the platform was accepting transactions from US users, in violation of a previous agreement with federal regulators. The situation escalated a week after the November 2024 elections. FBI agents raided the luxury New York apartment of Polymarket founder Shayne Coplan before dawn. The 27-year-old CEO, in a statement on social media following the incident, described the move as a last-minute effort by the Biden administration to target companies affiliated with his political rivals and mocked the seizure of his phone. These developments have been welcomed in the crypto community as a sign of the Trump administration's willingness to reverse its crackdown on digital assets. The US Congress is expected to present Trump with the first comprehensive bill this week that includes industry-backed regulations. The CFTC investigation into Polymarket began when the platform fell under the agency's jurisdiction due to its prediction contracts, which resembled futures contracts. In January 2022, the parties agreed to block US users from the platform. However, the investigation continued due to suspicions that these restrictions could have been circumvented through methods such as VPNs. The platform reached approximately $2.6 billion in trading volume in November. The closure of the investigations could pave the way for Polymarket to officially return to the US market, perhaps through registration with the CFTC as a futures exchange or acquisition of a licensed company. Polymarket aims to bring its prediction services to its social media platform by announcing a partnership with Elon Musk's X and artificial intelligence company xAI. It also continues to raise capital with new investment rounds led by Peter Thiel's Founders Fund. *This is not investment advice.

Erasing the Traces of Cryptocurrency-Hostile Era in the US: Investigation into Critical Platform Ends

HIGHLIGHTS The US DOJ and CFTC have ended the probe which began under the Biden administration. This is the latest regulatory victory as regulators warm up to crypto firms under Trump's administration. These regulators were investigating whether the platform was accepting trades from US users. The crypto industry has continued to stack up wins since U.S. President Donald Trump took office in January earlier this year. The latest of these victories comes as the U.S. Department of Justice (DOJ) ends its investigation into crypto platform Polymarket.
Polymarket In The Clear As DOJ, CFTC End Investigation
According to a Bloomberg report, the U.S. Justice Department and the Commodity Futures Trading Commission sent a formal notice to the prediction platform, informing it that they had concluded the probes. Notably, these investigations began under the Biden administration, which appeared to be an attack on the crypto industry.

However, there has been a turnaround since Trump became president, with the regulatory environment more friendly towards crypto firms. The conclusion of the probe into Polymarket marks the latest among investigations and legal battles against these firms, which regulators have dropped.

It is worth noting that the crypto prediction platform had played a major role during the U.S. presidential elections last year, as users used data from the site to gauge the outcome of the polls. The platform's popularity back then also drew the attention of regulators, who began assessing whether it was accepting trades from U.S. customers.




The conclusion of the investigation also comes at a time when Polymarket is looking to raise $200 million at a $1 billion valuation. As such, this development could provide additional momentum for the fundraise, seeing as the platform is now in the clear.
Meanwhile, the platform and other crypto firms are also set to get further regulatory clarity in the coming weeks as US Congress moves to pass the GENIUS Act and CLARITY Act. As CoinGape reported, the US House may advance these crypto bills by July 17.

Platform's CEO Comments On This Development
In an X post, Polymarket's CEO, Shayne Coplan, commented on the conclusion of the DOJ's investigation into his platform. He confirmed that this chapter of the story is over, as they have been cleared of any wrongdoing after cooperating and engaging with the regulators.

He also reminisced on how eight months ago, on election night, Polymarket got a lot of attention after they called the election. However, things quickly turned sour as eight days later, the FBI raided his home, taking his computers and phones.


He remarked that this was traumatic. However, the Polymarket CEO added that it etched the platform's accuracy and the ensuing resistance into the history of American politics. [Bloomberg]

US DOJ Ends Probe Into Crypto Prediction Platform Polymarket

The end of investigations may boost crypto-betting legitimacy, influencing future regulatory frameworks and market re-entry strategies.
The post <a href="https://cryptobriefing.com/polymarket-investigation-end-crypto/">DOJ and CFTC drop investigations into Polymarket</a> appeared first on <a href="https://cryptobriefing.com">Crypto Briefing</a>.

DOJ and CFTC drop investigations into Polymarket

With investigations from two major US agencies now reportedly closed, Polymarket has reached a critical regulatory milestone ahead of its $200 million funding round.

US Justice Department, CFTC end Polymarket investigations — Report

据市场消息，美国司法部已结束对预测平台PolyMarket的调查，这标志着在特朗普担任美国总统期间，加密货币博彩取得了一次胜利。（Golden Ten）【Odaily Planet Daily News】

美国司法部结束了对预测平台 PolyMarket 的调查

據市場消息，美國司法部已結束對預測平臺PolyMarket的調查，這標誌着在特朗普擔任美國總統期間，加密貨幣博彩取得了一次勝利。（Golden Ten）【Odaily Planet Daily News】