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Polymarket Reviews Dozens of New Wallets Behind Well-Timed Israel Election Bets: Report
Hundreds of new accounts backed Netanyahu and his Likud party shortly before polls closed on Oct. 27, and some have already cashed out over $100,000 combined, according to Bloomberg.
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Polymarket's investigative staff are examining dozens of wallets opened recently that placed wagers on Israel's October 27 election, the company's team told Bloomberg in a report released Thursday, with Reuters later summarizing it. Hundreds of new accounts made bets just before polling ended Tuesday, favoring Benjamin Netanyahu keeping his post and Likud taking the largest number of seats. Bubblemaps identified 101 accounts first funded on election day before voting closed, while Bloomberg reported that some of the involved accounts have withdrawn over $100,000 and many others still hold unrealized gains. The two analytics firms view the activity as suspicious, though Bloomberg stressed the evidence is inconclusive. Polymarket's three main election markets have together recorded roughly $106.4 million in volume, but how much came from flagged wallets remains unclear.
Why it matters: The development shows how prediction market platforms face growing pressure to scrutinize suspicious bets on political events.
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