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Morromisttoday at 5:35 AM2 repliesview on HN

Thanks. These paragraphs are pretty damning:

"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."

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


Replies

teravortoday at 5:48 AM

    > Just keep growing and pay a fine if regulators ever find out.
it's unfortunate that they weren'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.

podocarptoday at 5:44 AM

Gain wealth, forgetting all but self