Summary: Polymarket, a betting platform for on-chain bets, has witnessed a surge in volume despite facing regulatory challenges. Betters placed $1.1 billion on the outcome of the Superbowl, with the Philadelphia Eagles winning against the Kansas City Chiefs. Polymarket has been banned in some countries, and the U.S. CFTC is seeking access to customer data. However, crypto attorney Aaron Brogan argues that prediction markets like Polymarket are not just gambling platforms, as they generate revenue from transaction fees. Despite these hurdles, Polymarket has seen significant activity, with one user making a profit of over $550,000 from their Superbowl bets, while another lost $718,633. The platform has also seen considerable volume from other sports-related contracts, surpassing the volume on U.S. election markets.



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