Polymarket Refers Dozens of Potential Military Insider Trading Cases to Justice Department
The prediction site Polymarket has referred dozens of accounts exhibiting signs of potential military insider trading to the Justice Department for investigation, according to a senior company official. These referrals, which predate a recent watchdog report, concern 152 accounts identified by the nonpartisan Anti-Corruption Data Collective. This group analyzed publicly available Polymarket data and found that these accounts collectively profited approximately $8 million from war markets, including those related to the Iran war, displaying several hallmarks of insider activity. The flagged accounts often involved brand-new wallets placing remarkably well-timed bets with a staggering 97% win rate, a pattern indicative of insider trading. Polymarket's founder and CEO, Shayne Coplan, addressed the company's efforts to combat insider trading at a Commodity Futures Trading Commission meeting, highlighting their internal surveillance tools and the recent hiring of a former FBI official to build proprietary softw...