Event Wagers Face $143 Million Insider Problem as War Bets Boom
The Polymarket website displays trading on whether Houthi militias would strike Israeli territory late last year.
Photographer: Gabby Jones/BloombergEarly last Monday, a burst of concentrated trades set off a week in which Wall Street and Washington were abuzz about the possibility that insiders have been using early knowledge of President Donald Trump’s decision making on Iran to lock in big profits.
The moves, worth billions, hit the futures markets on Monday morning, just minutes before a social media post about the Middle East from Trump sent crude prices tumbling and equities soaring.