US EditionSuspected Insiders Make over $1.2 Million on Polymarket Ahead of U.S. Strike on Iran
Six accounts suspected of insider trading earned $1.2 million by betting on a U.S. strike on Iran hours before explosions in Tehran, per blockchain analytics.
- On Feb. 28, six Polymarket accounts earned roughly $1.2 million after correctly betting that the U.S. would strike Iran, and the Feb. 28 contract drew around $90 million in volume.
- Bubblemaps found most wallets were funded within the last 24 hours, and all six profiles were created in February with clustered funding paths and no other activity on Polymarket.
- One Polymarket account that bought 560,000+ shares at about 10.8 cents paid out near $560,000, another bought nearly 150,000 shares at 20 cents, and the $26,513 wager won more than $174,000.
- The trades coincided with bitcoin falling and oil futures rising on Hyperliquid, forming part of more than $529 million wagered since December as regulators weigh policing prediction markets.
- Polymarket's anonymity and lack of oversight have repeatedly raised alarms, with Israeli authorities filing charges earlier in February and Kalshi suspending users for suspected insider trading recently.
24 Articles
24 Articles
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Samuel Corum/Sipa USA/Sipa USA via APMultiple Democratic lawmakers criticized the lack of regulation on online betting platforms after reports that people — who they alleged may have had advance knowledge — made millions by predicting the U.S.-Israel strikes on Iran.Their calls for more limits on prediction markets came after multiple Polymarket wallets racked up hundreds of thousands of dollars by betting that the U.S. would strike Iran on Satu…
The recent bombings of the U.S. and Israel over Iranian territory not only stirred up the geopolitical board of the Middle East this weekend, but also triggered an unprecedented flow of capital in decentralized predictive markets.According to a Bloomberg report, bets linked to the exact moment of these attacks mobilized $529 million on the Polymarket platform.Beyond the volume of money traded, scrutiny has focused on investment patterns.Analysis…
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