Key facts
- Polymarket is investigating suspicious trades on Israel's election.
Prediction market operator Polymarket is investigating a string of well-timed and profitable trades on Israel's election this week, according to a report by Bloomberg News. Hundreds of newly created accounts placed bets on Prime Minister Benjamin Netanyahu retaining his position and his Likud party winning the most seats shortly before polls closed on Tuesday.
Polymarket's investigation into suspicious trading activity around Israel's election highlights growing scrutiny over potential insider trading in prediction markets, with platforms reporting a surge in such activity amid increased trading volumes.
Prediction market operator Polymarket is investigating a string of well-timed and profitable trades placed on Israel's election this week, according to a Bloomberg News report. Hundreds of newly created accounts placed bets on Prime Minister Benjamin Netanyahu retaining his position and his Likud party winning the most seats shortly before polls closed on Tuesday. These trades quickly became profitable after some exit polls showed Netanyahu's party had won more seats than early reports suggested. Some accounts have already cashed out over $100,000, with many wallets holding significant unrealized gains. Data analysis firms Polysights and Bubblemaps also flagged the activity as suspicious and are investigating. A representative for Bubblemaps stated that 101 Polymarket accounts were funded for the first time on election day before polls closed, with a few already selling out for a profit after the exit polls.
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