Polymarket’s Panama HQ listed at shared law office

Reporters who visited the Panama City address Polymarket lists as its headquarters found no sign of the prediction-market company. The 21st-floor suite in Oceania Business Plaza contained empty workstations and staff who said they had not heard of Polymarket or its Panama entity, Adventure One QSS Inc. A visiting reporter wrote, “There was no sign of Polymarket. Nobody had heard of Polymarket there.”

Public corporate records show the same law office is listed as the registered address for at least 15 crypto-related companies. Names tied to the address include Helix, Drift Protocol, Goldfinch and Parti. Parti operates a prediction-market live-streaming site that partners with Polymarket.

The office is run by attorney Mario García de Paredes. Court and bankruptcy records show García de Paredes’ firm provided legal services to the collapsed exchange FTX and is listed in FTX bankruptcy filings as an unsecured creditor owed $13,889 for prior legal work. The filings also show the law office’s address used by a range of incorporated crypto entities.

Polymarket moved some operations offshore after U.S. authorities penalized the company in 2022 for operating without a license. In 2024 federal agents searched CEO Shayne Coplan’s Manhattan apartment and seized electronic devices; prosecutors later narrowed and then dropped a probe into the company. Polymarket has said it plans a regulated U.S. offering and continues to operate an offshore exchange. The offshore platform reported more than $8 billion in volume in April. Separately, prosecutors have indicted a U.S. Army master sergeant accused of using a VPN to place a politically sensitive bet on the platform.

A Washington lawyer who specializes in international criminal law noted practical reasons companies register in Panama. He said companies with operations outside Panama generally face no Panamanian income tax and that foreign court judgments typically require approval from Panama’s Supreme Court before they can be enforced locally.

Using a single local law office as the registered headquarters for multiple firms is consistent with a practice in which legal agents provide incorporation and domiciling services while business operations take place elsewhere. The listing of Polymarket’s Panama entity at a shared law office, the lack of on-site corporate activity observed by visitors and the firm’s documented ties to a lawyer who did work for FTX are recorded facts drawn from public filings, court documents and the on-site visit.