97%
of volume is through the unregulated entity in Panama
3%
of volume is through the regulated entity in the US
Polymarket is based in Panama. That's how they can offer war, death, and assassination markets — with no oversight, no identity checks, and no accountability. None of it is on a US regulated exchange under US law.
Learn More →Adventure One QSS Inc. is domiciled in Panama. The founder and owner lives in New York. The president lives in the United States. The company's decision-makers are American, its users are largely American, and its markets move on American news. The Panama incorporation appears designed to place the exchange outside the reach of U.S. regulators — while continuing to operate as if it were a U.S.-based exchange in every other respect.
When access to regulated, transparent markets is restricted domestically, demand doesn't go away — it moves elsewhere.
They are NOT allowed in the US.
Assassination markets, nuclear detonation betting, terror event contracts — offered to any crypto wallet, no questions asked. These are explicitly prohibited on any registered U.S. exchange under the Commodity Exchange Act.
No identity verification. Minors, sanctioned nations, and bad actors could be trading freely — with no way to know. Registered U.S. exchanges are required to implement KYC and AML programs under the Bank Secrecy Act.
Public reporting suggests large scale wash trading is occurring to create artificial volume. This is banned on a registered U.S. exchange, but in Panama: there is no surveillance, reporting, or consequences.
Public filings, corporate registries, and published reporting tell the full story of who runs Polymarket, where, and how.
Read the Full Case →
