CandleFocus

Is a new whale on Polymarket skewing odds?

Author: Content Editor
The news content discusses various topics related to the cryptocurrency industry. First, it highlights that US persons are banned from using Polymarket, a prediction market platform, due to a settlement with the CFTC. However, some users have found ways to circumvent the ban to participate in predicting the outcome of the 2024 presidential election. The article also mentions that Polymarket has seen a significant increase in bets favoring Trump winning the presidency, raising eyebrows among observers.

The article then mentions Kalshi, another prediction market platform, which recently won its appeal against the CFTC and can now offer betting on Congressional race outcomes to US users. However, presidential election bets are still prohibited. Despite its success, Polymarket has not shared any plans to re-enter the US legally.

Furthermore, the Digital Chamber of Commerce conducted a survey that found a considerable number of Democrats and Republicans believe supporting crypto should be a priority for the federal government.

Lastly, the article discusses the SEC's appeal in the Ripple case. The SEC argues that the court "erroneously" ruled in favor of Ripple on the issue of programmatic sales and is also seeking a review of actions by Ripple's CEOs. There is debate about whether the SEC missed the deadline for filing its appeal.

Overall, the news content covers the banning of US users on Polymarket, the success and future plans of prediction market platforms, the stance of Democrats and Republicans on crypto policy, and the latest developments in the SEC's appeal against Ripple.

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