Regulatory tensions have flared between New York’s financial watchdog and Polymarket, a decentralized prediction market platform, over jurisdiction and oversight of digital asset trading. The state’s Department of Financial Services has taken steps to assert control, arguing that such markets fall under its purview, while Polymarket maintains its operations rely on blockchain technology and cross-border compliance. Legal and operational hurdles loom as the dispute could set a precedent for how emerging financial instruments are governed in the U.S. The outcome may impact not only prediction markets but also the broader digital asset ecosystem.
New York, Polymarket clash over who gets to regulate prediction markets Spectrum News
