Congress is looking for a Polymarket investigation after not less than 50 newly created accounts positioned bets on a US-Iran ceasefire within the minutes earlier than President Trump introduced it on social media on April 9.
Abstract
- Not less than 50 brand-new Polymarket accounts positioned successful ceasefire bets minutes earlier than Trump’s announcement.
- Consultant Ritchie Torres despatched a letter to the CFTC demanding a proper assessment of the platform.
- Senator Richard Blumenthal referred to as Polymarket “a bootleg market” for exploiting nationwide safety secrets and techniques.
The prediction market platform Polymarket is on the heart of a congressional firestorm after the US-Iran ceasefire announcement. Not less than 50 newly created accounts positioned bets on the result within the hours and minutes earlier than President Trump posted in regards to the deal, and most made no different bets earlier than or since.
Based on NPR, not less than 50 new accounts positioned substantial bets on a US-Iran ceasefire within the hours and minutes earlier than President Trump posted the deal on social media. The accounts had no prior betting historical past and made no different trades, elevating fast suspicion of insider exercise.
Rep. Ritchie Torres despatched a letter to the CFTC demanding a proper investigation. Sen. Richard Blumenthal went additional, calling Polymarket “a bootleg market to promote and exploit nationwide safety secrets and techniques in contrast to any in historical past.”
A Sample Polymarket Can’t Escape
This isn’t the primary time suspicious betting has preceded a significant geopolitical occasion. As crypto.information reported, six Polymarket accounts have been beforehand accused of utilizing insider info to revenue from the timing of earlier US strikes on Iran, incomes roughly $1 million and triggering the so-called DEATH BETS Act from Senator Adam Schiff.
Analytics agency Bubblemaps had flagged newly created wallets putting well timed bets simply hours earlier than these strikes commenced. The sample has now repeated with larger velocity: the newest bets have been positioned within the minutes earlier than the announcement, not simply hours.
Regulatory and Authorized Publicity
The CFTC issued an advance discover of proposed rulemaking on prediction markets in March 2026, with the remark window set to shut on April 30. Greater than 10 anti-prediction market payments have been launched in Congress since January.
As crypto.information famous, six Democratic senators beforehand urged the CFTC to ban contracts that resolve on or correlate to a person’s demise. Polymarket, which operates exterior US jurisdiction and requires solely a crypto pockets to commerce, has not commented on the newest congressional calls for.