Charlie McHenryWell-timed bets on Polymarket tied to the #IranWar draw calls for investigations from lawmakers - NEW YORK (AP) — Calls are increasing inside Congress for investigations into the prediction market platform Polymarket after the latest instance where groups of anonymous traders made strategic, well-timed bets on a major geopolitical event hours before it occurred. On Wednesday, The Associated Press reported that at least 50 brand new accounts on Polymarket placed substantial bets on a U.S.-Iran ceasefire in the hours, even minutes, before President Donald Trump announced the ceasefire late Tuesday on social media.
#corruption #PolyMarket #GriftersGonnaGrift
Lawmakers demand investigations into well-timed bets on Polymarket tied to the Iran war
Calls are increasing inside Congress for investigations into the prediction market platform Polymarket. This comes after The Associated Press reported that at least 50 new Polymarket accounts placed substantial bets on a U.S.-Iran ceasefire hours before President Donald Trump announced the ceasefire on social media. These accounts had never bet on Polymarket before and this isn't the first time such well-timed bets have occurred. Researchers at Harvard University estimate that $143 million in profits on Polymarket may have been made by individuals with insider information. Rep. Ritchie Torres has demanded that regulators review such trades, raising concerns about potential market abuse.