NYSE owner investing $2B in Polymarket

[Hypnosis00]

Just saw the news that the company behind the NYSE plans to put $2B into Polymarket, a crypto-based prediction market where people bet on real events like elections or sports.
If that’s true, it might hit around $10B valuation, not bad for something that started as a “decentralized betting” site.

Feels like gambling is slowly becoming more accepted by big institutions. But if companies like ICE get involved, will it still be decentralized gambling... or just another regulated, taxed version of it?

What do you guys think, is this a good sign or a red flag?

https://cryptonews.com/news/nyse-owner-eyes-massive-2b-stake-in-polymarket-is-a-10b-valuation-imminent/

[justinlamode]

From the article, it seems NYSE have other plans such as tokenization, which will widen the scope of business offered by Polymarket.  This is a plus for the gambling industry and will put to rest some of the criticism faced by Polymarket and will increase the financial inflow into gambling. In addition, this will have a direct effect on the crypto market in general since Polymarket is a crypto platform. I want to see how this will pan out and if the activities of the company under the new partnership, will have a far-reaching effect on the gambling business in general.

[Questat]

They’re already big even if they’re banned from serving the US market, so getting investment from the NYSE would be a huge step toward compliance. I mean, who would say no to the US market, right? but if that move ends up changing their betting model, which they call a decentralized prediction market then who knows what they’ll become.

People use them mainly because of the decentralization part, no KYC, no hassle. but if they start following strict regulations, most users might as well just gamble on licensed and reputable US casinos instead.

[r_victory]

Polymarket is the most widely used and well-known prediction market, and it's no surprise that it would attract significant investors. It's good for the betting market and good for investors. It's the money game that not everyone can or knows how to play...

Now, we'll only know the results of these investments over time. It's impossible to form an opinion on this at this point.

[freedomgo]

If they still won’t get approval in the U.S., they’ll probably try to expand more in other parts of the world. But honestly, has there ever been a company that really grew big without a U.S. permit or while having a case there?

I’m not sure if there’s a new update, but as far as I know, they were already fined before in the U.S.

https://www.cftc.gov/PressRoom/PressReleases/8478-22

Washington, D.C. — The Commodity Futures Trading Commission today entered an order filing and simultaneously settling charges against Delaware-registered Blockratize, Inc. d/b/a Polymarket, based in New York City, for offering off-exchange event-based binary options contracts and failure to obtain designation as a designated contract market (DCM) or registration as a swap execution facility (SEF).

The order requires that Polymarket pay a $1.4 million civil monetary penalty, facilitate the resolution (i.e. wind down) of all markets displayed on Polymarket.com that do not comply with the Commodity Exchange Act (CEA) and applicable CFTC regulations, and cease and desist from violating the CEA and CFTC regulations, as charged.

[mikel_012]

If they still won’t get approval in the U.S., they’ll probably try to expand more in other parts of the world. But honestly, has there ever been a company that really grew big without a U.S. permit or while having a case there?

I’m not sure if there’s a new update, but as far as I know, they were already fined before in the U.S.

https://www.cftc.gov/PressRoom/PressReleases/8478-22

Washington, D.C. — The Commodity Futures Trading Commission today entered an order filing and simultaneously settling charges against Delaware-registered Blockratize, Inc. d/b/a Polymarket, based in New York City, for offering off-exchange event-based binary options contracts and failure to obtain designation as a designated contract market (DCM) or registration as a swap execution facility (SEF).

The order requires that Polymarket pay a $1.4 million civil monetary penalty, facilitate the resolution (i.e. wind down) of all markets displayed on Polymarket.com that do not comply with the Commodity Exchange Act (CEA) and applicable CFTC regulations, and cease and desist from violating the CEA and CFTC regulations, as charged.

This was in 2022 with the Biden administration. Trump is more friendly with everyone and accepts gifts from friends and powerful company owners to make their policies easier on them.

Since NYSE owner invested $2 billion I think it's very clear that Trump and the CFT will help their case to make a great future for the platform.

They’re already big even if they’re banned from serving the US market, so getting investment from the NYSE would be a huge step toward compliance. I mean, who would say no to the US market, right? but if that move ends up changing their betting model, which they call a decentralized prediction market then who knows what they’ll become.

People use them mainly because of the decentralization part, no KYC, no hassle. but if they start following strict regulations, most users might as well just gamble on licensed and reputable US casinos instead.

Not if polymarket has better liquidity and odds. This is what matters because money talks more than facility when there is big money.

[Satofan44]

Amazing how far Polymarket has come. There is obviously great demand for a betting service of thing kind.

This was in 2022 with the Biden administration. Trump is more friendly with everyone and accepts gifts from friends and powerful company owners to make their policies easier on them.

The Biden's and the democrats are the most corrupt pieces of shit that have ever walked across our great American territory. If you don't directly shower them with money in all kinds of corrupt schemes they will block your progress. They do covertly what they accuse Trump doing overtly just on a scale that is 1000 times worse. Trump is a businessmen, he is focused on prosperity for everyone and prosperity as fast as possible. It is not his job to pretend to be a socialist Tsar-savior of the poor.  

Since NYSE owner invested $2 billion I think it's very clear that Trump and the CFT will help their case to make a great future for the platform.

They would not even attempt this if there wasn't a high likelihood that it would pass already. Usually there are backroom conversations going on before anything is made public.

[Japinat]

They would not even attempt this if there wasn't a high likelihood that it would pass already. Usually there are backroom conversations going on before anything is made public.

Then I guess we can expect Polymarket to grow even more under Trump’s leadership as president.
You know how Trump is, nobody wants to be on his bad side, but if you’re his friend, you’ll benefit for sure.

That’s probably why NYSE is now aggressively investing huge amounts into a decentralized prediction market that’s already been penalized in several major countries. looks like they see potential there, especially with Trump back in the picture.

But are they gonna still continue with their current status, which is decentralized? we know decentralized means no KYC.

[freedomgo]

This was in 2022 with the Biden administration. Trump is more friendly with everyone and accepts gifts from friends and powerful company owners to make their policies easier on them.

Of course, Trump’s pro-crypto, that’s true, but the question is, what happens to the “decentralized” part when a project like that enters the U.S. market? If they start following all the compliance and tax rules, doesn’t that basically make them centralized?

I mean, if they’re not paying taxes or not registered, they can’t legally operate in the U.S., right? So to get in, they’d need to follow regulations, which means KYC, reporting, maybe even restrictions on users, that kind of defeats the whole “open and decentralized” idea.

[Satofan44]

Then I guess we can expect Polymarket to grow even more under Trump’s leadership as president.

That's my expectation. I don't see any reason for this not to be the case. Besides, Polymarket is much less manipulative as a gambling establishment than most traditional one. There is absolutely no reason to deny it except bureaucrats like those in the EU wanting their share of the money.

You know how Trump is, nobody wants to be on his bad side, but if you’re his friend, you’ll benefit for sure.

He's a bit crazy but he is much more honest than most politicians with a lot of power. If he was a sneaking and scheming parasite like Democrats then he would try to hide the ways in which he punishes you when you are on his bad side. He is not like this. If he believes you have done wrong, he comes at you in public without remorse.

That’s probably why NYSE is now aggressively investing huge amounts into a decentralized prediction market that’s already been penalized in several major countries. looks like they see potential there, especially with Trump back in the picture.

Funny when you consider all the fraudulent lawsuits that are happening against trump in this state. 

But are they gonna still continue with their current status, which is decentralized? we know decentralized means no KYC.

We will see if the regulators allow that. So far the attack against no KYC services has been moderate. The situation isn't great but it could be worse too.

[rdluffy]

It's interesting that they will invest in Polymarket, since it is not able to operate in the US
Meanwhile, Kalshi can operate because it has a license
https://kalshi.com/

It may be that they are planning to enter the North American market, which is, after all, the largest in the world
I suspect that this investment may have something to do with that

[Satofan44]

It's interesting that they will invest in Polymarket, since it is not able to operate in the US
Meanwhile, Kalshi can operate because it has a license
https://kalshi.com/

It may be that they are planning to enter the North American market, which is, after all, the largest in the world
I suspect that this investment may have something to do with that

You can't compare Kalshi to Polymarket. Kalshi is completely centralized while Polymarket is decentralized. That would be like comparing an apple to a cucumber. Of course it was much easier for Kalshi to get a license because they require a traditional type of license. Polymarket is a radical innovation and if it does get a license that would be a precedent.

[SmartGold01]

$2B is extremely large to put into gambling site and of course could make that gambling site a bigger one for that matter, Polymarket is actually a very popular prediction market that has been used globally and is really making name out there even more that some gambling site that we know, although market is more featuring events like elections and other social events or occurrences.

[cryptoaddictchie]

Just saw the news that the company behind the NYSE plans to put $2B into Polymarket, a crypto-based prediction market where people bet on real events like elections or sports.
If that’s true, it might hit around $10B valuation, not bad for something that started as a “decentralized betting” site.

Feels like gambling is slowly becoming more accepted by big institutions. But if companies like ICE get involved, will it still be decentralized gambling... or just another regulated, taxed version of it?

What do you guys think, is this a good sign or a red flag?

https://cryptonews.com/news/nyse-owner-eyes-massive-2b-stake-in-polymarket-is-a-10b-valuation-imminent/

This shows that prediction market is likely booming. Right now there are a lots of prediction market that are trending. Polymarket, Kalshi, Limitless and some on their debut launch like new ones. I dont know if we can categorized this industry as gambling too but the narrative is the same with sports betting its just that on it anything is being open without any restriction on topic.

Im aligned with one of the current trending prediction market called limitless let see if their gonna boom. They launch a token ahead of polymarket.

[bitbollo]

This is really a huge amount. And this is also impressive that comes directly from a well known company.
It's evident that soon or later, many applications or tools will reach another level with such huge funds. It's also evident that new games and innovations should come in the market.
Its clear that current gambling platforms would be not enough for the gamblers of the future.

[Porfirii]

-snip-
What do you guys think, is this a good sign or a red flag?

https://cryptonews.com/news/nyse-owner-eyes-massive-2b-stake-in-polymarket-is-a-10b-valuation-imminent/

To me it is a good sign for sure. It surprised me when I listened about Polymarket on mass media for the first time last year, it's a milestone that just a few projects achieve in our niche, and if they've succeeded it's because there was a gap in the market that they have been able to take advantage of very well.

[Fortify]

Just saw the news that the company behind the NYSE plans to put $2B into Polymarket, a crypto-based prediction market where people bet on real events like elections or sports.
If that’s true, it might hit around $10B valuation, not bad for something that started as a “decentralized betting” site.

Feels like gambling is slowly becoming more accepted by big institutions. But if companies like ICE get involved, will it still be decentralized gambling... or just another regulated, taxed version of it?

What do you guys think, is this a good sign or a red flag?

It's interesting times for crypto and gambling in America, both are in a period of relaxing laws, along with a very friendly administration - the president has endorsed his own cryptocurrency after all. These companies are probably looking to grow as big as they can before the next administration, so they can milk the profits but also claim to be established if the next government challenges them. It took them a while to allow companies like the coinbase on to the stock exchange. It's a very big green flag for future legitimate growth in the US gambling market.

[yahoo62278]

From the article, it seems NYSE have other plans such as tokenization, which will widen the scope of business offered by Polymarket.  This is a plus for the gambling industry and will put to rest some of the criticism faced by Polymarket and will increase the financial inflow into gambling. In addition, this will have a direct effect on the crypto market in general since Polymarket is a crypto platform. I want to see how this will pan out and if the activities of the company under the new partnership, will have a far-reaching effect on the gambling business in general.

As long as some big whig isn't planning on a big rug pull if they do decide to tokenize it. I can count on 1 hand the number of successful tokenized projects(probably exaggerating but you guys get my point), makes me worry for the future of Polymarket.

[OgNasty]

I just read that the owner of Polymarket is now the world’s youngest billionaire. That’s pretty impressive. He was able to take a very simple idea, one that has been done many times before, and make it such a massive success. I always wonder if there was some secret sauce involved or if it really is dumb luck when things like this happen.

[mcdouglasx]

It's difficult to predict what the outcome of the evolution of decentralized entities will be in the face of this type of event. What I would expect is that it will be good for casinos, but it will increasingly move closer to centralization and control. I see it as very difficult for the latter not to occur, since the government cannot afford to lose control. The only thing is that the strategy of centralizing something consists of taking space in decentralized organizations, taking power, and then eventually including rules and laws that gradually lead it to centralization.
But this is not the end. Every time a decentralized entity is absorbed, social and technical pressure is generated that drives the creation of more robust alternatives.