Polymarket's Opaque Corporate Structure Puzzles Even Former Employees

Polymarket, the popular prediction market platform, has an unusually secretive corporate structure that has left even some former employees confused about how the company is organized. The company operates through a Panamanian entity, a setup that has raised eyebrows among those familiar with the business. This corporate opacity comes on top of existing scrutiny surrounding Polymarket, whose CEO previously had his apartment raided by FBI agents. The nature and purpose of the Panamanian operation remain unclear to many who have worked with or for the company. The unusual arrangements have prompted broader questions about transparency and governance at the prediction market firm.