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Polymarket brings ultra-short crypto prediction markets to U.S. service

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Polymarket is facing renewed scrutiny over a 2022 inquiry, which included an FBI search at the prediction markets platform CEO Shayne Coplan's home. (Jesse Hamilton/CoinDesk)

Prediction platform Polymarket rolled out five-minute crypto up-or-down betting contracts on its regulated U.S. platform.

Key facts

Summary

Polymarket started offering five-minute cryptocurrency bets on its regulated U.S. platform, with correct predictions paying $1 per share and incorrect predictions paying nothing. Researchers flagged suspected settlement manipulation in earlier contracts, but their findings predate settlement-rule changes and do not establish manipulation of the new U.S. products. The introduction comes as the Commodity Futures Trading Commission investigates Polymarket’s compliance with a 2022 settlement and examines customer protections on its U.S. platform, . Traders can bet on whether a cryptocurrency will end a five-minute period above or below its starting price, allowing investors to capitalize on ultra-short-term price movements in bitcoin BTC $76,811.58, ether ETH $2,196.17, solana (SOL) and XRP (XRP).

Read full article at CoinDesk →

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