Polymarket Probes Suspicious Bets on Israeli Election Outcome

Polymarket is probing whether insider trading compromised markets centered on the Israeli election and how Prime Minister Benjamin Netanyahu would fare in the Oct. 27 contest. Shortly before polls closed on Tuesday, prediction market data analytics firms Polysights and Bubblemaps flagged hundreds of newly created accounts making deposits on the blockchain ledger for the first time. The accounts executed a series of well-timed trades on the Israeli election that quickly turned profitable, with some jointly netting over $100,000 after exit polls indicated Netanyahu’s Likud party would win more seats than previously projected.