Polymarket probes suspicious trading in Israeli election, hundreds of new accounts accurately predicted profits before voting

BlockBeats news, October 29 - According to Bloomberg, prediction market platform Polymarket is investigating a series of precisely timed and highly profitable trades that occurred during this week's Israeli elections. According to Bloomberg's analysis, shortly before the polls closed on Tuesday, hundreds of new accounts concentrated on predicting that Benjamin Netanyahu and his Likud party would outperform their rivals. After some exit polls showed Netanyahu's camp winning more seats than early reports suggested, these trades quickly turned profitable, with some accounts having cashed out over $100,000. This is the latest case of a prediction market raising concerns about insider trading, following previous scrutiny from regulators and public opinion over precise predictions related to events such as sports, U.S. elections, and geopolitics on Polymarket.