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Polymarket's $515K Iran Strike Trade Raises Questions

Hacker News •
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A brand new account on Polymarket made over $515,000 betting on a U.S. strike against Iran, placing the trade 71 minutes before the news broke publicly. This unusual timing has sparked questions about the platform's operations and oversight.

The betting platform has undergone a dramatic transformation in 2025. After years of being effectively banned for U.S. users and facing criminal investigations, Polymarket was legalized and saw trading volume explode to $21 billion, up from $9 billion in 2024.

These developments take on new significance given that the President's own family sits on Polymarket's advisory board. The platform's legal hurdles were cleared overnight, and now a single account has made a massive profit on an event that hadn't yet been publicly announced. This raises serious questions about market integrity and whether proper safeguards are in place.