It appears that a Polymarket account called "Magamyman" made $515,000 in a single day betting on last night's U.S. strike on Iran, with the first trade placed 71 minutes before the news broke publicly.
When this person bought in, the market had this at a 17% probability. They turned roughly $87,000 into over half a million dollars overnight.
Reminder that Donald Trump Jr. sits on Polymarket's advisory board and his firm invested double-digit millions into the platform last year. The DOJ and CFTC both had active investigations into Polymarket that were dropped after Trump took office.
Prediction markets cannot be a vehicle for profiting off advance knowledge of military action.
We need answers, transparency, and oversight.
When this person bought in, the market had this at a 17% probability. They turned roughly $87,000 into over half a million dollars overnight.
Reminder that Donald Trump Jr. sits on Polymarket's advisory board and his firm invested double-digit millions into the platform last year. The DOJ and CFTC both had active investigations into Polymarket that were dropped after Trump took office.
Prediction markets cannot be a vehicle for profiting off advance knowledge of military action.
We need answers, transparency, and oversight.
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