Polymarket clarifies KYC applies only to new beta product, not existing platform

A Google information security engineer has been arrested and charged with commodities fraud, wire fraud, and money laundering after allegedly using confidential internal company data to place a series of bets on Polymarket — the crypto-based prediction market platform — winning approximately $1.2 million by knowing the outcomes of his wagers before the trading public […]

Polymarket has clarified that it is not introducing mandatory Know Your Customer checks across its main prediction market platform despite renewed scrutiny over compliance and restricted-jurisdiction access. In a post on X, Polymarket vice president of engineering Josh Stevens said…

Polymarket executive Josh Stevens said identity checks apply only to early beta access and are not being added to Polymarket’s existing platform.

Polymarket increases KYC checks during beta testing as regulators raise concerns over sanctions, insider trading, and restricted market access. Polymarket is increasing identity verification efforts as regulatory pressure continues growing worldwide. The prediction market platform aims to minimise sanctions risks and potential legal issues. Furthermore, there is a close monitoring of online prediction markets and […] The post Polymarket Pushes Mandatory KYC Amid Regulatory Pressure and Sanctions Risks appeared first on Live Bitcoin News.

The case highlights increasing regulatory scrutiny on prediction markets, potentially leading to stricter compliance measures and enforcement. The post Google engineer charged with insider trading on Polymarket for $1.2M in profits appeared first on Crypto Briefing.

Traditional sportsbooks offer familiarity, massive liquidity, and regulation. But they also come with KYC — passport uploads, selfies, the occasional "we need additional verification" right after you win. During peak traffic, withdrawal delays aren't rare.

The case highlights growing regulatory scrutiny on prediction markets, raising questions about data security and market manipulation risks. The post US charges Google engineer with insider trading on Polymarket over search trend bets appeared first on Crypto Briefing.

The post Polymarket trader accused of making $1.2M using Google insider data appeared on BitcoinEthereumNews.com. U.S. authorities have charged a Google software engineer with insider trading tied to prediction markets, as federal regulators continue tightening scrutiny around Polymarket and other event-based trading platforms. Summary U.S. prosecutors and the CFTC have charged a Google engineer over alleged insider trading tied to Polymarket bets. Authorities said the trader used unreleased Google search trend data to place $2.7 million in prediction market wagers. According to the U.S. Department of Justice, Google employee Michele Spagnuolo allegedly used confidential company information to place trades on Polymarket before Google publicly released its 2025 search trend rankings. “A Google employee allegedly used confidential information to make more than $1.2 million through insider trading on a prediction market,” said U.S. Attorney Jay Clayton. “Corporate insiders who misuse conf