PokerShares Shuts Down After Five Years Due to Regulatory Hurdles

PokerShares, the online poker staking platform, has announced it will cease trading, citing regulatory limitations as the main reason. The platform, founded by Mike “Timex” McDonald, will stop creating new markets from January 1, 2022, and has set a deadline of March 2022 for all customers to withdraw their balances.

PokerShares was launched five years ago and was initially seen as a promising venture in the poker staking market. The platform aimed to make the poker staking market more efficient and give fans more involvement in the game. However, the regulatory hurdles and the shift of the team's focus to other ventures have led to this decision.

In a Twitter thread, PokerShares explained that the team has gradually moved away from poker and into new ventures, and the regulatory limitations have hindered their ability to grow the business effectively. The platform expressed gratitude for the support over the years and hoped that fans' favorite players would be crowned the 2022 WSOP main event champion.