""The odds of this happening by random chance are virtually zero," said Columbia Law School's Joshua Mitts, who advises the Department of Justice on insider trading cases."
""The trader could've been a White House insider," he said. "But the trader could have possessed the information without being an insider.""
""$143 million in profits have been earned on Polymarket by bettors with insider information," according to Mitts, highlighting the potential for exploiting confidential information."
In the final hours of President Biden's term, a Polymarket trader made significant profits by betting on pardons for Jim Biden, Liz Cheney, Adam Schiff, and Adam Kinzinger. These individuals, all critics of Trump, received pardons despite not being charged with crimes. The trader placed bets totaling $64,000, which resulted in $316,346 in profits. Experts suggest the trader may have had insider information, as the odds of such outcomes occurring by chance are extremely low. This raises concerns about the potential for profiting from confidential government information.
Read at www.npr.org
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