Polymarket Cracks Down on US-Based Users as Whale Bets on Trump.

Polymarket, a cryptocurrency-based predictions market, is verifying that its big spenders are not based in the US due to trading restrictions. Some users, including one with the username Fredi9999, have placed millions of dollars in bets favoring Donald Trump's re-election. Despite polls showing Trump trailing, heavy betting on Polymarket has pushed the implied probability of his victory to 64%. The platform, which was fined by the CFTC in 2022, does not allow US users but can be accessed through virtual private networks. [Extracted from the article]