After the Biden administration cracked down on Polymarket for operating without a license in 2022, it wound down its U.S. business and set up shop in Panama, a country that has long been a popular tax haven for American firms looking for an off-shore subsidiary.

But when NPR recently visited the law office listed as its home base in Panamanian government documents, there was no sign of Polymarket, nor the entity it does business as in Panama, Adventure One QSS Inc.

Instead, a nondescript corporate lobby opened into a large space with about a dozen unoccupied computer stations positioned in the middle of the room. An office worker said the attorney who runs the firm, Mario García de Paredes, was not available. The worker had never heard of Polymarket or Adventure One.