Polymarket Hack Losses Updated to $3.1M Amid Investigation Over Marketing

Polymarket, the leading prediction market platform, has revised its estimated losses from a recent security incident to $3.1 million, up from earlier figures. The update comes days after the company assured users it would provide full refunds for funds lost in the exploit.

The platform initially reported a smaller figure but has now confirmed the higher amount as investigations into the breach continue. Polymarket stated that affected users will be compensated in full, though the timeline for refunds has not been specified.

Separately, reports have emerged that Polymarket is under investigation by regulatory authorities for alleged false or deceptive marketing practices. The nature of the probe and the specific claims have not been detailed, but it adds to the platform's recent challenges.

Polymarket has not commented on the investigation. The platform remains operational as it works to address both the security incident and the regulatory scrutiny.