Thread

1. fortran77 · 1789879080 · focus · HN ↗

   <a href="https:&#x2F;&#x2F;www.wsj.com&#x2F;business&#x2F;polymarkets-fraud-regulators-coplan-5f418ab0?st=uyYWsK&amp;reflink=desktopwebshare_permalink" rel="nofollow">https:&#x2F;&#x2F;www.wsj.com&#x2F;business&#x2F;polymarkets-fraud-regulators-co...

   1. Morromist · 1789882559 · focus · HN ↗

      Thanks. These paragraphs are pretty damning:

      &quot;At one point, the processor rejected as fraudulent more than 80% of the deposits it was handling, a rate that far exceeded industry standards of roughly 1%. Polymarket employees quickly raised their concerns with Chief Executive Shayne Coplan, according to people familiar with the events.

      The compliance team, those people recalled, was floored by Coplan’s response: Just keep growing and pay a fine if regulators ever find out.&quot;

      At what point are you a casino and at what point are you just a utility for money laundering, insider betting, scams &amp; fraud?

      1. teravor · 1789883336 · focus · HN ↗

             > Just keep growing and pay a fine if regulators ever find out.
         

         it&#x27;s unfortunate that they weren&#x27;t able to get a lawyer with experience to comment on whether or not he is right.

         would certainly be interesting to know if he does risk assessment under the table.

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