Taiwan police are targeting a group of crypto influencers linked to Polymarket election betting. Several Facebook group administrators and members have been called in for questioning by police, who have requested documents related to the activities of the group.
In August, Polymarket launched a cryptocurrency market focused on the 2020 US presidential elections. This enabled users to trade futures contracts and other derivatives on the outcomes of the US elections. The site became popular among crypto influencers due to its ease-of-use and anonymity.
However, this popularity attracted the attention of Taiwanese law enforcement. In September, police started questioning several individuals who were linked to the site’s operations. The group of crypto influencers were among those targeted by police.
It is unclear what the police are hoping to achieve by questioning the group. However, it appears that authorities are concerned about the potentially illegal nature of Polymarket’s activities, which would breach local regulations. It is possible that police are hoping to uncover any evidence which could be used to prosecute those involved.
It is not yet known how the Taiwanese police investigation will progress. However, it is clear that the authorities are taking the matter seriously and that those involved should take appropriate caution.