[creatonez]

If the only shell(s) for a business are in a completely different jurisdiction with no connection whatsoever to any of the humans involved in operating the organization... yes. It's an outrageous way to escape the force of the law that has been rubber stamped by corrupt politicians.

[kube-system]

It is exceeding common for US companies to incorporate without a presence in Delaware for the exact opposite reason of dodging the law. It is done to make legal compliance easier and more streamlined.

[no-name-here]

Is Polymarket registered in Panama to make legal compliance easier/for the opposite reason of dodging the law?

[lazide]

Registering in Panama isn’t even the sketchy thing! They listed a false agent of process, hah.

[kube-system]

No, Polymarket is sketchy as fuck. I was disputing the allegation that there's something inherently wrong with having a registered agent in another locale.

[kelnos]

Oh, c'mon, that's a huge exaggeration. US companies commonly incorporate in Delaware due to its generally-friendly business regulation with a ton of legal precedent surrounding it, and a court system well positioned to handle business-related cases.

If they're incorporated there because that makes regulatory compliance easier, then that's not "dodging", that's just... doing what's allowed.

And it's not like incorporating in Delaware is a get-out-of-jail-free card. If the company does have a presence in other states, the laws of those states are binding in many circumstances; the state of incorporation is irrelevant there. And there's always US federal law. Choice of state isn't going to change anything when the feds come knocking.

The issue at hand is Polymarket claiming they are based in Panama, outside the US's jurisdiction, but presumably being headquartered in the US. You might say this is no different from a company being incorporated in, say, the UK, doing business there, hiring people, maintaining an office, and then also having offices in the US, but... this is not the same, and it's a little odd that you seem to be missing that fact.

And on top of that, often multi-nationals will have a legal entity in every country where they operate. Do they have one in the US? If not, and they are de-facto headquartered here, that's beyond sketchy. And even if they do, if they've structured things such that they can shield their assets from US legal judgments for crimes or torts committed on US soil, that's also pretty damn sketchy.

[kube-system]

Polymarket is clearly flying close to the sun, at a minimum. There's plenty of evidence to show that, but "every company with legal entities in some other place is doing something wrong" isn't one of them, as was claimed by others in this thread. Delaware is a convenient example of why this just simply isn't true.