U.S. CFTC Launches Investigation Into Polymarket's Social Media Activities This Week

According to Bloomberg, the U.S. Commodity Futures Trading Commission (CFTC) launched an investigation into prediction market platform Polymarket this week, examining social media activities and trading practices. The probe follows The Wall Street Journal's report that Polymarket hired dozens of college-aged social media creators to film fake trading videos to attract users. Last week, Senators Adam Schiff and John Curtis urged the CFTC to confirm whether it is investigating Polymarket's advertising practices and how the agency has prevented the platform from attracting U.S. users since a 2022 settlement.
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