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Benzinga
  • 2 hours ago
Polymarket faced scrutiny after hosting bets on nuclear detonations and regime change during the Iran war, with suspected insiders netting $1.2M on strike timing wagers. U.S. lawmakers proposed bills restricting markets tied to military actions and deaths as a related Iran strike market drew $500M+ in bets.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Prediction markets faced scrutiny during the Iran war after platforms hosted wagers on events
00:07including regime change, military action, and nuclear detonations, according to CNBC.
00:13Pali market archived markets tied to the timing of a nuclear weapon detonation
00:17after hundreds of thousands of dollars in bets were placed.
00:20CEO Shane Copland said prediction markets provide informational value even during conflicts.
00:25U.S. lawmakers proposed bills to restrict markets tied to military actions, deaths, and regime change.
00:32Cryptoanalytics firm Bubble Maps identified six suspected insiders
00:36who placed a $1.2 million wager that the U.S. would strike Iran.
00:40A related strike timing market on Pali market drew more than $500 million in bets.
00:46For all things money, visit Benzinga.com.
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