US Regulators Drop Polymarket Probe Amid Trump’s Pro-Crypto Shift

U.S. authorities have closed investigations into Polymarket, a cryptocurrency-based prediction platform, signaling a regulatory pivot under the TRUMP administration. The Department of Justice and Commodity Futures Trading Commission informed the company this month that their probes—initiated during Biden’s tenure—were terminated.

The decision aligns with Washington’s broader embrace of digital assets, dubbed 'Crypto Week' as legislators advance industry-friendly policies. Polymarket, which allows users to wager on real-world events like elections using crypto, faced scrutiny for allegedly violating a 2022 agreement barring unregistered U.S. operations.

CEO Shayne Coplan’s sarcastic social media response to an FBI raid on his home last November—'New phone, who dis?'—became a rallying cry for crypto advocates who viewed the enforcement action as politically charged.