Polymarket probes suspicious bets on Israel’s election — Anadolu Agency

Prediction market platform Polymarket is investigating suspicious bets placed shortly before voting ended in Israel’s election. According to Anadolu Agency, citing The Wall Street Journal, a person familiar with the review disclosed the investigation.

Bets before voting ended

According to the publication, the transactions generated substantial profits and were made at an unusually opportune time. The bets concerned predictions that Israeli Prime Minister Benjamin Netanyahu would perform better than his opponent.

Against the backdrop of these transactions, prediction market platforms, including Polymarket, are facing heightened scrutiny over the potential use of insider information for betting, the WSJ noted.

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Other reports of possible violations

The article also states that U.S. and Israeli law enforcement authorities have brought charges against military personnel who, according to the publication, are suspected of using confidential information to profit from bets on the platform.

U.S. federal investigators, according to the WSJ, are also preparing to bring charges against a KPMG employee suspected of using insider information for transactions related to the financial results of companies audited by the firm. Separately, cases were reported in which users allegedly linked stolen debit cards to Polymarket accounts to fund bets.