Polymarket hit by $2.9M theft, users to be refunded

Senators are seeking answers from the CFTC about recent allegations of deceptive marketing from Polymarket.

Senators Adam Schiff and John Curtis sent a letter to CFTC Chair Michael Selig Thursday asking whether the agency is investigating Polymarket's paid influencer scheme, putting the regulator in a bind over a platform it licenses but whose staged trades ran on an offshore site beyond its direct reach.

U.S. senators have urged the Commodity Futures Trading Commission to investigate Polymarket over allegations that the prediction market platform used deceptive advertising to reach American users despite restricting access in the country. According to a letter obtained by The Wall…

The investigation could reshape regulatory oversight in prediction markets, impacting transparency and trust in the broader crypto ecosystem. The post Senators call for federal investigation into Polymarket’s deceptive advertising appeared first on Crypto Briefing.

Polymarket's rapid revenue growth highlights the increasing competitiveness and regulatory evolution in the US prediction market sector. The post Polymarket surpasses $1B annualized revenue six weeks after US launch appeared first on Crypto Briefing.

Hot PCE inflation data crushed Fed rate-cut hopes, triggering $1.26B in crypto liquidations and pushing Polymarket's Bitcoin $50K odds to 65%. The post Bitcoin Price Could Flash Crash to $50,000 This Weekend: Don’t Get Scared Now appeared first on 99Bitcoins.

Polymarket has confirmed that attackers compromised a third party vendor and used the access to inject malicious code into the platform’s frontend, leading to a phishing attack that drained an estimated $2.94 million from users. Polymarket disclosed on X that…

Security researchers classified the incident as a supply chain attack rather than a flaw in Polymarket's core contracts.