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Polymarket Bank-Failure Contracts Draw FDIC Officials’ Concern
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According to a Bloomberg report, ChainCatcher reports that contracts on the prediction market platform Polymarket betting on the collapse of institutions such as Wells Fargo, JPMorgan Chase, and Bank of America have raised concerns among FDIC officials and members of Congress. Some worry that the increasing size of such contracts could fuel bank runs in real-world scenarios. Internal discussions within the FDIC have concluded that existing ethic…
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