Polymarket, the crypto-based prediction market platform, has long been lauded for its accuracy in anticipating event outcomes.
Research shows that the platform’s markets, which are swayed by bettors putting real money on the line, often generate odds that are closer to reality than other sources.
Yet four people who participate in Polymarket’s prediction markets told DL News that a number of high-rolling bettors appear to be working together to swing the outcomes in their favour.
DL News found the sources credible because they all told the same story, did not appear to be working together, and were not financially motivated to speak out about what they knew.
They declined to identify themselves publicly to preserve their privacy and prevent online attacks.
The claims come to light just as Polymarket is on the verge of closing a blockbuster $200 million funding round led by Peter Thiel’s Founders Fund, which is expected to bestow the firm behind the platform with unicorn status.