{"id":2034,"date":"2026-06-23T14:50:24","date_gmt":"2026-06-23T14:50:24","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=2034"},"modified":"2026-06-23T14:50:24","modified_gmt":"2026-06-23T14:50:24","slug":"polymarket-allegedly-faked-trades-chances-are-slim-trump-admin-investigates-says-sports-betting-attorney","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=2034","title":{"rendered":"Polymarket allegedly faked trades. Chances are slim Trump admin investigates, says sports-betting attorney"},"content":{"rendered":"<div>\n<p>The $9 billion company allegedly asked creators with American audiences to falsify trades as a marketing tactic, according to a report from <em>The Wall Street Journal<\/em>. Since 2022, Polymarket had been banned from the United States, but in January it won a license from the Commodity Futures Trading Commission, which regulates prediction markets.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=2032\">A Tesla on autopilot just killed a woman who was standing in her own living room<\/a><\/p>\n<p>If federal agencies have the appetite for investigations, the CFTC would likely focus on Polymarket\u2019s efforts to attract U.S. customers without proper registration, while the Federal Trade Commission would zero in on its influencer\u2011driven marketing, according to Steven Lofchie, a partner at the firm Norton Rose Fulbright, where he specializes in securities and commodities law.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>\u201cThe [FTC], as opposed to the CFTC, might have the easier case against Polymarket,\u201d he said. \u201cThe CFTC could bring charges about evasion of registration requirements,\u201d he added.\u00a0<\/p>\n<p>In a statement, a Polymarket spokesperson said it would review how its marketing content is created and distributed: \u201cWe are conducting a comprehensive audit of active promotional content to ensure it complies with our standards, as well as applicable regulatory and legal disclosure requirements.\u201d<\/p>\n<p>Despite the legal reasoning that Polymarket\u2019s fake ad campaign could land it in the crosshairs of\u00a0 federal regulators, investigations under the Trump administration are unlikely, said Daniel Wallach, a gaming attorney and sports betting legal expert at the law firm Wallach Legal.<\/p>\n<p>Although prediction markets are growing rapidly, with billions in new bets flowing into platforms like Polymarket and competitor Kalshi, the CFTC under Trump has shed roughly a quarter of its staff and pushed out career officials who sought to investigate crypto companies and prediction markets, according to <em>The New York Times<\/em>.\u00a0<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=2030\">Top CD rates from major banks on June 23, 2026: Chase CDs, Bank of America CDs, Citibank CDs, and more<\/a><\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>Moreover, the agency\u2019s lone chairman, Michael Selig\u2014who previously represented crypto and prediction market companies as a corporate lawyer and later led the SEC\u2019s crypto task force\u2014is a long-time ally of those industries.\u00a0<\/p>\n<p>Meanwhile, the Trump family has ties to prediction markets. Donald Trump Jr. is a paid advisor to Kalshi and a major investor in Polymarket through the venture capital firm, 1789 Capital, where he is a partner\u00a0<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>\u201cThe reality is that the CFTC\u2026 has moved away from an enforcement priority and is now marching in lockstep with the prediction market exchanges,\u201d Wallach told <em>Fortune<\/em>. \u201cI\u2019m skeptical that there would be any real consequences coming from this agency that only has one commissioner out of five [and] has experienced a 25% reduction in staff over the past year,\u201d he said.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>Wallach added that the most likely legal fallout would come from private civil lawsuits, brought by bettors who lost money after relying on Polymarket\u2019s misleading marketing.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=2028\">Current price of Ethereum for June 23, 2026<\/a><\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>The CFTC and FTC did not immediately respond to <em>Fortune<\/em>\u2019s requests for comment.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A recent Wall Street Journal investigation found that the prediction market hired influencers to stage fake trades as part of its marketing campaign to attract U.S. users.<\/p>\n","protected":false},"author":1,"featured_media":2033,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[135],"tags":[],"class_list":["post-2034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Polymarket allegedly faked trades. Chances are slim Trump admin investigates, says sports-betting attorney - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=2034\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polymarket allegedly faked trades. 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