The cryptocurrency prediction platform Polymarket has garnered attention with its impressive trading volume related to sporting events. During the Super Bowl matchup between the Philadelphia Eagles and the Kansas City Chiefs, the platform saw a staggering $1.1 billion in trades. As interest in sports prediction contracts rises, the platform’s popularity is also attracting the scrutiny of international regulatory bodies.

Polymarket and Challenges with Regulations

Polymarket enables users to make predictions on sports events, political occurrences, and entertainment industry developments through on-chain prediction contracts. However, the platform faces considerable risks due to potential international regulations that could hinder its growth. In some countries, the platform is entirely banned, and in the United States, it is under regulatory scrutiny.

The U.S. Commodity Futures Trading Commission (CFTC) has requested access to trading data from Polymarket’s users. This request indicates that the platform may be subject to tighter regulations in the countries where it operates. The high trading volume of sports-focused contracts has placed the platform on the radar of traditional financial markets.

Users and Polymarket Performances

Users trad...