Americans Are Trading Billions of Dollars on Polymarket’s Banned Offshore Platform
A new study by a Rutgers statistician reveals that US-based traders are funneling billions of dollars into the offshore crypto-prediction platform Polymarket. Despite being banned for US users, the platform sees significant activity from Americans, particularly in sports and election markets.
Why it matters
This highlights a major regulatory challenge for US authorities attempting to enforce financial laws on decentralized, offshore digital platforms.
Photo-Illustration: Jobanny Cabrera; Getty Images Comment Loader Save Story Save this story Comment Loader Save Story Save this story Approximately 30 percent of the trading volume on Polymarket comes from the United States, according to a new study—an eye-popping number, considering that none of those people are legally allowed to use the crypto -based platform.
The article reports on a study's findings objectively without taking a stance on the legality or morality of the platform.
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