NPR went looking for Polymarket's Panama headquarters. It's elusive
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NPR investigated Polymarket's official Panama headquarters and found no physical presence — just a law office shared with at least 15 other crypto companies, including some linked to FTX. Polymarket relocated to Panama after a 2022 CFTC settlement forced it to shut down U.S. operations and pay a $1.4 million fine. Panama offers zero income tax on foreign-sourced revenue, no capital gains tax, and strong legal shields against foreign court judgements. Despite the site technically remaining banned for U.S. users, the Trump administration has embraced Polymarket: the DOJ dropped its investigation, Donald Trump Jr. joined as an adviser, and the CEO was invited to the White House. The platform now processes over $8 billion in trades monthly, raising questions about geofencing enforcement and whether American users are truly blocked.
