Polymarket Reportedly Seeks $50M in Funding, Mulls Token as Election Bets Surge

Under
a
regulatory
settlement,
Polymarket
blocks
users
with
U.S.
IP
addresses,
although
crafty
American
traders
have
reportedly

gotten
around
the
geofencing
using
VPNs.

The
startup’s
runaway
success
this
year
has
been
a

sore
point
for
Kalshi,
a
regulated,
dollar-denominated
prediction
market
that’s
been
fighting
a
protracted
court
battle
with
its
supervisor,
the
U.S.
Commodity
Futures
Trading
Commission,
so
it
can
list
contracts
on
which
party
will
control
each
house
of
Congress.
The
agency
has
been
considering
a
proposed
rule
that
would
ban
election
event
contracts
at
all
the
exchanges
on
its
watch,
which
would
push
regulation
of
such
activity
to
the
states.