Six Polymarket Accounts Profit $1.2 Million from U.S.-Iran Strike Predictions
- Six accounts on Polymarket earned approximately $1.2 million by betting that the U.S. would strike Iran by February 28.
- Most wallets were funded within the last day before the attack, purchasing “Yes” shares just hours before the strikes occurred.
- One account bought over 560,000 shares at about $0.108 each, earning nearly $560,000 after market resolution.
- Trading volume for this contract reached nearly $90 million, part of over $529 million wagered on related markets since December.
- The CFTC has cautioned that insider trading on event contracts may violate U.S. law amid ongoing investigations into prediction markets.
The significant profits made by these accounts raise concerns about potential insider trading in prediction markets, especially as regulatory scrutiny increases following recent enforcement actions against other platforms.
With a total of approximately $90 million traded on this contract alone, the events highlight the intersection of cryptocurrency and regulatory challenges in prediction markets.(Source)
