Polymarket is looking into what it calls potentially suspicious trading in relation to Israel’s general election on October 27. Hundreds of newly registered accounts made successful bets on Prime Minister Benjamin Netanyahu’s Likud party just before voting closed, raising renewed fears of possible insider trading on prediction markets.
This activity was composed of two contracts on the platform. One was about who would be the next prime minister of Israel, the other about which party would win the most seats in parliament.
The polls had not even closed, and a few blockchain analytics firms had already spotted strange trading patterns. Polysights and Bubblemaps reported large deposits into newly created accounts, many of which had no prior trading history, reported The New York Times.
