Polymarket said it is investigating hundreds of new accounts that placed wagers in two election-related markets on Tuesday. The company is reviewing activity for suspicious betting patterns.
The investigation focuses on accounts created recently that engaged in high-value bets on outcomes of the Israeli election. Polymarket has not disclosed the specific markets or the total amount wagered.
A spokesperson stated the company takes such activity seriously and is working with regulatory partners. No formal charges have been filed, but the review is ongoing.
The platform allows users to bet on political events using cryptocurrency. This is not the first time Polymarket has faced scrutiny over election betting activity.
Source: New York Times Top Stories · Summarized by HeadlinesBriefing