According to reports, the Department of Justice (DOJ) is ending its probe into Polymarket. The probe began several months ago, investigating potential violations of gambling laws.
Federal regulators have granted similar reprieves for various crypto firms and individuals in recent months. This has been a controversial move, attracting applause and criticism from within the community.
Polymarket Investigation Ends Without Enforcement
Polymarket, the online predictions market, has faced a lot of trouble for allegedly violating gambling laws in several worldwide jurisdictions. Today, however, the platform received a major reprieve, as the DOJ is officially ending its probe into Polymarket:
The DOJ ending this probe potentially opens up several doors for Polymarket. Although US-related bets are frequently popular on the platform, Polymarket nonetheless has an ambiguous status in the US. Depending on the terms of this development, it may be able to expand services in this jurisdiction in the coming months.
Since President Trump took office, the federal government has dropped charges and investigations into a wide array of crypto firms and individuals. Law enforcement agencies haven’t done this in a few months, but the DOJ’s new Polymarket announcement resumes the trend.
Nonetheless, this pattern has attracted a lot of criticism from regulators and the public, and the DOJ’s Polymarket decision may prove similarly controversial. Recently, the platform’s own community has been disgruntled about a few disputed bet results. It’s unclear how the situation will develop for Polymarket or the surrounding market.
The post US Department of Justice Drops Investigation Into Polymarket appeared first on BeInCrypto.
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