CandleFocus Polymarket's Probe Highlights Challenges of Blocking U.S. Users (and Their VPNs)
2024-11-14
Author: Content Editor
Popular prediction market Polymarket is the subject of a criminal investigation by the US Department of Justice (DOJ), which raided the home of its CEO. While Polymarket has been blocking US IP addresses from trading on its platform, legal experts argue that this measure is insufficient to comply with US regulations, particularly as the company has a history of regulatory issues. The case highlights the challenge faced by blockchain projects and crypto firms in preventing users from circumventing geographical restrictions through virtual private networks. The investigation also raises broader questions about how companies can comply with regulatory obligations while protecting their users' personal data and maintaining a frictionless sign-up process.
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