NPR finds "no sign" of Polymarket at its Panama HQ address

3 hours ago

Polymarket, a popular prediction market platform, relocated its official corporate headquarters to Panama to evade U.S. regulatory scrutiny following a 2022 settlement.
Despite being listed at a law office in Panama City's Oceania Business Plaza, no physical presence of Polymarket was found there, and it shares this address with numerous other cryptocurrency firms.
The company's Panamanian base offers significant tax advantages, including no income or capital gains taxes for foreign-earned revenue, and provides a legal shield from U.S. court judgments.
Under the Trump administration, Polymarket has seen rapid growth and regained regulatory favor, with investigations dropped and connections to Trump's family, though its platform remains technically banned in the U.S.
Polymarket faces challenges in preventing U.S. users from accessing its overseas exchange despite rules against VPNs, as highlighted by a case involving a soldier accused of using a VPN to place bets.
Legal experts warn that Polymarket's offshore structure may face future legal and enforcement risks, especially under a different U.S. administration, despite current regulatory leniency.

Hasty Briefsbeta