U.S. Senators Demand CFTC Investigation Into Polymarket's Misleading Ads on June 26

According to Wall Street Journal, on June 26, U.S. Senators John Curtis and Adam Schiff called on the Commodity Futures Trading Commission (CFTC) Chair Michael Selig to investigate prediction market platform Polymarket over allegedly promoting false bets through social media misleading advertisements. The senators alleged the platform marketed non-existent or non-redeemable contracts and questioned whether Polymarket's compliance aligns with existing derivatives and prediction market regulatory frameworks.
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