Polymarket Has Investigated 'Dozens' of Midterm Election Bets: Report
Polymarket has investigated dozens of bets on U.S. midterm election markets for suspected insider trading or manipulation, referring at least two cases to the CFTC, according to NPR. Its 16-person investigations team uses a surveillance system drawing on social media, campaign finance filings, financial partners and statistical models, generating hundreds of alerts daily. The system covers both its identity-verified U.S. exchange and its crypto-based international platform, where users can trade anonymously. Rival Kalshi says it has opened more than 150 investigations this year and referred over 20 cases to law enforcement. Election betting has faced scrutiny after campaign staffers disclosed wagering on their own candidates and a U.S. soldier was charged over bets allegedly based on classified information. The CFTC has largely left monitoring to platforms, though it has issued warnings and taken enforcement action in related cases.
