Telegram becomes a full launchpad with Orbitt 2.0

The U.S. Department of Justice (DOJ) and Commodity Futures Trading Commission (CFTC) have officially ended their investigations into Polymarket, a popular blockchain-based prediction market platform. The closure of the probes launched in the final months of the Biden administration indicates a broader regulatory shift under President Trump, whose administration has adopted a more crypto-friendly stance. Polymarket Cleared as DOJ and CFTC Close Probes Without Action According to a Bloomberg report published Tuesday, Polymarket was formally notified earlier this month that both the DOJ and CFTC had concluded their inquiries without pursuing further action. The investigations sought to determine whether the New York-based platform continued to allow U.S. residents to place bets despite a 2022 settlement with regulators that banned such access. Neither the DOJ nor the CFTC issued public comments on the case, and Polymarket itself has remained measured in its response. Still, CEO Shayne Coplan shared his reflections in a personal post on X, offering rare insight into the toll the scrutiny had taken. “Eight months ago, on election night, we were on top of the world… Eight days later, the FBI broke down my door at 6am and took all my computers and phones,” he wrote. 8 months ago, on election night, we were on top of the world after Polymarket called the election. 8 days later, the FBI broke down my door at 6am and took all my computers and phones, looking for anything that could imply foul play. While traumatic, it etched the story of… pic.twitter.com/EOfJQTCzMY — Shayne Coplan 🦅 (@shayne_coplan) July 15, 2025 Coplan described the experience as traumatic but said it showed Polymarket’s accuracy and resilience. He confirmed the company has been cleared of wrongdoing, stating, “Justice prevailed. God Bless America.” Polymarket allows users to bet with cryptocurrency on real-world outcomes, from election results and geopolitical conflicts to economic indicators and proposed legislation. The platform rose to prominence during the 2024 U.S. election cycle, when users speculated heavily on Donald Trump’s chances of returning to office. That wave of attention, however, brought scrutiny. In 2022, the CFTC fined Polymarket $1.4 million , accusing it of running an unregistered derivatives platform and ordering it to block U.S. users from placing bets. While Polymarket complied officially, regulators suspected the platform may still have been accessed by American traders using VPNs or other tools to circumvent the ban. 👮‍♀️ FBI agents have reportedly seized Polymarket CEO Shayne Coplan’s phone and electronics, following a raid at his Manhattan residence. #FBIraid #Polymarket #ShayneCoplan https://t.co/FoAECymNsu — Cryptonews.com (@cryptonews) November 14, 2024 The situation escalated dramatically in November 2024, just days after the election, when the FBI raided Coplan’s Manhattan residence and seized electronic devices in a surprise early morning operation. The investigation, which also involved the CFTC , focused on whether Polymarket had violated its earlier agreement by allowing disguised U.S. trading activity to continue. As part of the settlement, the company committed to geo-blocking U.S. residents. In response to the closure of the investigation, Coinbase CEO Brian Armstrong publicly decried the DOJ’s actions, saying, “This was one of the most egregious examples of lawfare from the last administration that should never have been possible in America. Imagine having your door broken down for predicting an election.” Armstrong continued, adding that “The onus was on the government to prove there was something worth pursuing here, and they failed to do that. This is how you lose trust in institutions.” This was one of the most egregious examples of lawfare from the last administration, that should never have been possible in America. Imagine having your door broken down for predicting an election. The onus was on the government to prove there was something worth pursuing here,… https://t.co/WhoDanAw7k — Brian Armstrong (@brian_armstrong) July 15, 2025 Polymarket Eyes U.S. Comeback Amid Pro-Crypto Policy Shift The decision to drop the investigations reflects a broader change in Washington’s stance toward digital assets and prediction markets under the Trump administration. At its peak in November 2024, Polymarket recorded a staggering $2.6 billion in monthly trading volume. While volume dipped to $1.1 billion in May 2025, activity remains strong. Polymarket now hosts over 21,000 markets with 1.2 million users and $700 million in active trading. With the DOJ and CFTC inquiries officially closed, industry watchers believe Polymarket may explore reentering the U.S. market in a more regulated form by either registering as a designated contract market (DCM) under the CFTC or acquiring a firm with an existing license. While the platform will reportedly be working its way back into the U.S., it did not stop developing even during the CFTC and FBI investigations. Polymarket is in the midst of a major expansion effort, reportedly closing in on a $200 million funding round led by Peter Thiel’s Founders Fund. 💰 @Polymarket , a crypto-based prediction market platform, is on the verge of closing a $200 million funding round that would value the company at $1 billion. #Polymarket #Crypto https://t.co/wkfbhY7fVe — Cryptonews.com (@cryptonews) June 25, 2025 Additionally, the platform recently announced a partnership with Elon Musk’s X and its AI division, xAI, to integrate prediction markets into the social media platform. Under this arrangement, Polymarket will offer real-time event forecasts that appear alongside user posts and commentary. 🧮 X and Polymarket have joined forces to bring live prediction odds to the social timeline, replacing the short-lived Kalshi link-up. Real-time widgets and AI summaries seek to turn trending topics into quick crowd forecasts. #crypto #PredictionMarke … https://t.co/HBustPGwCk — Cryptonews.com (@cryptonews) June 6, 2025 Still, the platform faces scrutiny outside the U.S. Authorities in France, Belgium, Thailand, Taiwan, and Singapore have also placed restrictions on Polymarket, often citing gambling law violations. ❌ Singapore blocks crypto-based prediction platform @Polymarket , warning users of fines or jail time for gambling with unlicensed providers. #Polymarket #SingaporeBan https://t.co/AYBWETFMx7 — Cryptonews.com (@cryptonews) January 13, 2025 Allegations of market manipulation have also surfaced, although none have resulted in formal charges. Polymarket’s main rival, Kalshi, recently won a legal victory against the CFTC when the watchdog moved to voluntarily dismiss its appeal of a ruling in Kalshi’s favor, effectively conceding that election betting contracts may have a place in the American financial sector. With Polymarket now legally in the clear, the question is whether the U.S. will allow the platform to operate under a regulated framework.

PANews reported on July 10 that according to the "Future of EF Ecosystem Development" published on the official blog of the Ethereum Foundation, as the Ethereum ecosystem continues to expand,

Several key pieces of crypto legislation failed to find a path forward through Congress on Tuesday despite enthusiasm from the Republican-declared “Crypto Week.” Crypto Legislation Faces a Major Setback The July 14 procedural vote saw 196 U.S. lawmakers in favor of advancing the pieces of digital asset legislation, with 223 against the move. 🚨WOW. Just came out of the @rstormsf trial (no phones allowed) and catching up on the House floor drama. The procedural vote on the crypto bills failed after a group of GOP Freedom Caucus members voted no — mostly, I’m told, over concerns about CBDCs and the bills not being… — Eleanor Terrett (@EleanorTerrett) July 15, 2025 Reports indicate that the vote fell apart after a group of House Freedom Caucus politicians voted no on the grounds that the crypto bills did not sufficiently address problems surrounding central bank digital currencies (CBDCs), along with other concerns. A successful vote would have largely been seen as a landmark moment for pro-crypto proponents as it included key legislation such as the GENIUS Act and CLARITY Act. Unclear How U.S. Lawmakers Will Move Forward After Shock Vote News of the failed procedural vote comes shortly after U.S. President Donald Trump called on Republican lawmakers to pass the digital asset bills in a Tuesday, July 15, Truth Social post. “This is our moment—Digital Assets, GENIUS, Clarity,” Trump wrote. “It is all part of Making America Great Again, BIGGER AND BETTER THAN EVER BEFORE.” “We are leading the World, and will work hard with the Senate and the House to get even more legislation passed,” he added. While Republicans are referring to the week of July 14 as “Crypto Week” on Capitol Hill, Democratic heavyweights have pushed back by also declaring this week as “Anti-Crypto Corruption Week.” In a July 11 notice posted on the House Financial Services Committee’s website, Ranking Member of the House Financial Services C ommittee Maxine Waters (D-CA) and Congressman Stephen Lynch (D-MA) claimed Republicans are trying to pass “dangerous pieces of crypto legislation.” “Aside from lacking urgently needed consumer protections and national security guardrails, these bills would make Congress complicit in Trump’s unprecedented crypto scam—one that has personally enriched himself, his entire family, and the billionaire insiders in his cabinet, all while defrauding investors,” Waters said. With the crypto bills currently stalled, it is still unclear how U.S. lawmakers will proceed.