Senators urge CFTC to probe Polymarket over fake ad claims

Senators have asked the CFTC to investigate Polymarket for deceptive advertising practices. They questioned the CFTC’s oversight of prediction markets and consumer protections. The request follows allegations that Polymarket used fake trading interfaces and undisclosed influencer campaigns. The CFTC is also facing scrutiny over crypto derivatives. Regulatory pressure extends to crypto-linked derivatives and federal oversight of prediction markets. The CFTC and SEC are reviewing crypto derivatives regulation.