Polymarket investigates suspicious trades in the Israeli elections, with hundreds of new accounts accurately predicting profits before voting

According to Bloomberg, the prediction market platform Polymarket is investigating a series of timely and profitable trades that emerged during this week's Israeli elections. According to Bloomberg's analysis, shortly before the voting ended on Tuesday, hundreds of new accounts concentrated their predictions, believing that Benjamin Netanyahu and his Likud party would perform better than their competitors.

After some exit polls indicated that Netanyahu's camp won more seats than earlier reports suggested, these trades quickly turned profitable, with some accounts cashing out over $100,000. This is the latest case in the prediction market that has raised concerns about insider trading, as Polymarket has previously faced extensive scrutiny from regulators and public opinion for its accurate predictions related to sports, the U.S. elections, and geopolitical events.