Polymarket Market Wash Trading
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likely wash tradingFortune
•Exclusive: Election betting site Polymarket is rife with fake ‘wash’ trading, researchers say
79% Informative
Polymarket has skyrocketed into mainstream consciousness during the 2024 U.S. elections.
The prediction market has reported $2.7 billion in bets over whether Donald Trump or Kamala Harris will be elected president in early November .
But analysts at two crypto research firms have found evidence of rampant wash trading on Polymarket .
Polymarket is the largest platform by far, thanks in part to its crypto-native design and offshore operations.
Polymarket’s decision to operate on blockchain rails means researchers can analyze activity.
Polymarket is reporting that share of Hillary Clinton for president as $ 1 of volume.
The discrepancy underscores the untested nature of a platform on which many rely for signals about the presidential election.
VR Score
78
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76
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