- A study released this week puts the total value of US trades on Polymarket at several billion dollars, even though the platform is prohibited for American users.
- Researchers examined blockchain data and payment flows to identify addresses linked to US participants. The analysis shows consistent activity across multiple markets, from election outcomes to COVID‑19 projections. Polymarket, a crypto‑based prediction market, was officially blocked for Americans in 2023, but the data suggests the ban has not stopped domestic traders.
- The findings matter because they expose a gap between regulatory intent and on‑the‑ground behavior. If US users can bypass restrictions, authorities may need tougher enforcement or clearer rules for crypto‑based betting services.
- The market’s growth mirrors earlier attempts to sidestep gambling laws, reminding regulators that tech can outpace policy faster than they can react.