u/AikenNormag

NPR reporters actually flew to Panama City to visit the address Polymarket lists as its corporate headquarters. They found a nondescript law office on the 21st floor of the Oceania Business Plaza. The receptionist had never heard of Polymarket.

A few things from the piece worth chewing on:

• The same law firm is the registered "HQ" for at least 15 other crypto companies — Helix, Drift, Goldfinch, Parti, etc.
• Court filings show the firm also did work for FTX (still owed ~$13.9k from the bankruptcy).
• Polymarket is now valued around $15B. ~$8B traded on it in April alone, vs. under $1B last April.
• Site is still technically banned for US users under the 2022 CFTC settlement, but DOJ dropped its probe after Trump took office, Don Jr. joined as an adviser, and 1789 Capital invested.
• The recent army sergeant case (bet $33k on Maduro's removal using classified intel) shows how easy the VPN block is to bypass.