Polymarket Refers Dozens of War-Trading Cases to Justice Department After $8 Million Profit Flags
Updated
Updated · CNN · Aug 21
Polymarket Refers Dozens of War-Trading Cases to Justice Department After $8 Million Profit Flags
3 articles · Updated · CNN · Aug 21
Summary
Dozens of Polymarket accounts tied to suspected military insider trading were referred to the Justice Department, a previously undisclosed step the company said came before a watchdog report published Thursday.
That report from the Anti-Corruption Data Collective identified 152 accounts that made about $8 million on war markets, many using new wallets, longshot bets and a 97% win rate—patterns Polymarket said can signal insider activity.
Polymarket said its in-house surveillance system tracks roughly 150 additional signals, and CEO Shayne Coplan told a CFTC advisory meeting the company has worked with law enforcement on past cases and recently tightened market-integrity rules.
Scrutiny is still widening: the Wall Street Journal reported a CFTC probe, lawmakers and 44 state attorneys general are pressing for more regulation, and critics say war markets could create national-security risks by rewarding leaks of military secrets.