" Crypto predictions platform Polymarket is reportedly checking to ensure whales placing big bets on the United States presidential election are based overseas, as US users are banned from the platform.

“Polymarket is in the process of re-checking the details of users of its platform, particularly those making large wagers, to ensure compliance with its rules,” a report from Bloomberg said on Oct. 22, citing a person familiar with the matter.

While Polymarket has systems in place to block US users from its website, concerns have been raised that US residents may be circumventing the blockage via virtual private networks — prompting Polymarket to do more due diligence.

It follows speculation that a handful of large whales are skewing the odds for the November US presidential election in favor of Republican candidate and former President Donald Trump.

Almost $2.3 billion in bets have been placed in Polymarket’s “Presidential Election Winner 2024” market, which currently favors Trump (63.7%) over Vice President Kamala Harris (36.2%)."


https://cointelegraph.com/news/polymarket-checks-f...

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