Techmeme Ride Home Thu. 11/14 – The FBI (!) Investigating Polymarket
Nov 14, 2024
Regulation is on the rise in tech as Meta faces a massive EU fine over unfair practices. The FBI is digging into Polymarket for potentially letting U.S. users bet, raising questions about its future. Meanwhile, Google is under scrutiny for possible federal oversight. Exciting news from OpenAI hints at a new AI agent debuting soon. In a surprising twist, the podcast hints at an emerging trend: puzzle games might soon overshadow streaming wars!
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Meta's EU Fine
- Meta was fined nearly €800 million for unfairly tying Facebook Marketplace to Facebook.
- This is Meta's first major EU fine, related to anti-competitive practices.
Polymarket Investigation
- The FBI seized Polymarket CEO Shane Copland's devices, investigating alleged acceptance of bets from U.S. users.
- This follows a 2022 CFTC agreement requiring Polymarket to block U.S. traders.
CFPB and Google
- The CFPB might place Google under federal supervision, potentially leading to regular inspections of its financial services.
- Google has resisted this, leading to potential legal clashes over the CFPB's authority in the digital age.