6 Hrs
Source:
The Guardian
UK urged to intervene as bets on HSBC and Lloyds failure grow
UK, US, Canada, and EU residents are barred from betting on Polymarket’s offshore platform, which allows users worldwide to speculate on events like bank failures. The platform has seen over $77,000 in bets on whether major banks will collapse by the end of the year, raising concerns about market manipulation and potential impacts on financial stability. Authorities, including the UK’s FCA and European regulators, are monitoring the platform's risks, citing issues like insider trading and the potential for market disruption.
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