According to DLNews, Polymarket CEO Shayne Coplan's New York residence was raided, marking an uncertain future for prediction markets. Since its establishment in 2020, Polymarket has been under the scrutiny of regulators.
In 2022, Polymarket reached a settlement with the Commodity Futures Trading Commission (CFTC), paying a $1.4 million fine and agreeing to prohibit U.S. residents from betting on its platform. However, the Treasury is investigating whether it accepted trades from U.S. users.
The CFTC proposed banning prediction markets, believing they could lead to market manipulation and ethical issues. French regulators are also investigating Polymarket, indicating the complexity of the issues.