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proposal. If there is a dispute, the proposal will go to UMA for a vote. If the original proposal is voted as correct, the original proposal will get their original funds back, plus a portion of the disputer's bond (e.g. $ 250 for a $ 750 bond). If the original proposal is voted as incorrect, the disputer will get their bond back, plus a portion of the original proposer's bond.
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to settle markets. Users propose markets using UMA, putting up a bond (typically $ 750) to propose a market. Then, there will be a waiting period (typically 2 hours) for other users to dispute the proposed resolution. If the market is not disputed, the user will get a reward (typically $ 5) for their
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Founded in 2020 by Shayne Coplan, Polymarket is an online prediction market platform that would allow users to trade on the outcome of world events. In
January 2022, the platform was fined US$ 1.4 million by the
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available at the time of the submersible wager, including the outcome of the
Guatemalan presidential election and the likelihood of Twitter suing Meta, and the likelihood that Russia would use nuclear force.
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In 2024, the outcome of U.S. elections became the most active market on the platform, with over $ 1 billion (as of
September 25, 2024) wagered on the presidential race between the Republican candidate
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went viral; the premise of the bet was whether or not the submersible would be found by a certain date, rather than a wager on the fate of the passengers. Polymarket had over 60
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to bet on the likelihood of future events taking place. Polymarket uses the
Polygon network. Polymarket has no fees for trading, and all gas fees are paid by the platform.
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150:. According to the CFTC, Polymarket offered "substantial cooperation" throughout the investigation which resulted in the company receiving a lower fine.
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264:"Peter Thiel Invests In Polymarket Political Betting Platform—But The Future Of Gambling On Elections Remains Unclear"
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Polymarket has raised $ 70 million across two rounds, with the most recent raise led by
Founders Fund...
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reported that interest around the company had increased after a tweet about the outcome of the
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385:"Crypto Betting Service Polymarket Taps Ex-CFTC Head as Chair After Agency Probe"
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platform that allows users to place bets on world events. Users buy and sell
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489:"A resurgent online betting market is boosted by crypto and current events"
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419:"Peter Thiel's VC Firm Backs Election Betting With Polymarket Investment"
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456:"Meet the Internet Gamblers Who Won Big Betting on the Submarine's Fate"
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order, following regulation violations including not registering as a
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354:"Event-Betting Platform Polymarket to Pay $ 1.4 Million U.S. Fine"
545:"Prediction markets notch an important win with Biden's drop out"
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324:"CFTC Fines Polymarket and Issues a Cease and Desist"
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519:"Polymarket | Presidential Election Winner 2024"
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383:Natarajan, Sridhar (May 19, 2022).
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153:In May 2022, Polymarket appointed
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553:. Retrieved
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58:Available in
37:Developer(s)
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204:Nate Silver
171:Peter Thiel
571:Categories
523:Polymarket
242:References
112:Polymarket
101:polymarket
22:Polymarket
547:. Axios.
423:Bloomberg
389:Bloomberg
235:Stake.com
555:July 22,
549:Archived
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433:June 19,
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399:March 1,
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302:Archived
298:NBC News
278:June 19,
272:Archived
229:See also
163:Ethereum
74:platform
47:Platform
188:markets
133:History
96:Website
80:License
61:English
52:Polygon
268:Forbes
165:, and
125:using
123:shares
114:is a
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103:.com
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89:GPL
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