NPR Topics: Business•Today at 07:33
Well-timed bets on Polymarket tied to the Iran war draw calls for investigations from lawmakers
NEW YORK — 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. In January, an anonymous Polymarket user made a $400,000 profit by betting that Venezuelan leader Nicolas Maduro would be out of office, hours before Maduro was captured. "What is the statistical likelihood that of anyone other than an insider trader placing a winning bet 12 minutes before a market-moving presidential announcement," Torres said in an interview with AP.
