Polymarket is enlisting firms including Palantir Technologies Inc. to help police its sports contracts as prediction markets face intense scrutiny over insider trading.
A platform developed by Palantir and TWG AI will help identify, prevent and report suspicious activity, Polymarket said in a statement Tuesday, confirming an earlier Bloomberg News report. Measures include screening against existing lists of participants already banned from sports betting.
The monitoring system will be used on a US-regulated venue that Polymarket is building out, according to a person familiar with the matter. The company’s main trading platform is situated offshore and does not accept US-based customers.
“Our partnership with Palantir and TWG AI allows us to apply world-class analytics and monitoring to sports markets,” Shayne Coplan, chief executive officer of Polymarket, said in the statement.
