The company has approached traders, including sports bettors, about joining the effort as it expands in the US and rival Kalshi faces scrutiny over similar practices. Polymarket is recruiting staff for an internal market-making team that may trade against users on its platform. The company has recently approached traders — including sports bettors — about joining the group, Bloomberg reported on Thursday, citing people familiar with the discussions. The initiative comes as Polymarket expands its US presence after resolving regulatory issues stemming from a 2022 case, when it paid a $1.4 million penalty to the Commodity Futures Trading Commission. Read more
Poland’s parliament upheld a veto on the Crypto-Asset Market Act, delaying EU-aligned regulation and deepening divisions over security and innovation. The lower house of Poland’s parliament failed to secure the required three-fifths majority to override President Karol Nawrocki’s veto of the Crypto-Asset Market Act, pushing the country further away from regulating its digital-asset sector at a moment when lawmakers argue that oversight is increasingly urgent. As Bloomberg reported Friday, the legislation — advanced by Prime Minister Donald Tusk’s government — was intended to align Poland with the European Union’s MiCA framework for crypto markets. The bill was introduced in June but did not survive the president’s veto. Nawrocki blocked the measure last week, arguing it would “threaten the freedoms of Poles, their property, and the stability of the state,” as Cointelegraph previously reported. Read more
A sentencing recommendation said that Do Kwon had caused more losses than Sam Bankman-Fried, Alex Mashinsky and Karl Sebastian Greenwood combined. US attorneys representing the federal government have requested that a judge send Terraform Labs co-founder Do Kwon to prison for 12 years at his sentencing hearing next week. In a Thursday filing in the US District Court for the Southern District of New York, prosecutors asked that a judge sentence Kwon “to a term of twelve years’ imprisonment and finalize the forfeiture of his criminal proceeds.” The filing came about four months after the Terraform co-founder pleaded guilty to two counts of wire fraud and conspiracy to defraud. Read more