Polymarket's rise to a $1 billion (£788 million) annualised revenue run rate, six weeks after expanding access to its US exchange, is facing a regulatory challenge. Two US senators have urged the Commodity Futures Trading Commission (CFTC) to investigate allegations that the prediction market company used staged trades, simulated websites and undisclosed influencer promotions to attract users.
In a letter to CFTC Chairman Michael Selig, Senators John Curtis and Adam Schiff said the allegations were 'deeply troubling' and called on the regulator to examine whether Polymarket's marketing practices complied with consumer-protection standards.
