"Last Monday, 15 minutes before Donald Trump posted an announcement that productive talks with Iran had taken place, oil traders placed half a billion dollars' worth of bets on the future price of oil. Trump's statement triggered a drop in crude oil prices, and it seems as if some people knew that the announcement was coming, and so a profitable wager was made."
"Before the US attack on Iran, several new accounts on the platform predicted the timing of the US/Israeli strikes, just 24 hours before they happened. A single account, set up only a few days before military action occurred, made more than $400,000."
"Betting markets are rising in popularity precisely because their activity has low barriers to entry and is hard to track. Wagers are made with cryptocurrency such as bitcoin, and so have fewer traditional, traceable banking footprints or restrictions."
Recent trading activities in oil markets indicate unusual patterns, with significant bets placed shortly before Donald Trump's announcement regarding Iran. This has led to speculation about insider knowledge influencing these trades. Similar trends have been observed in online prediction markets, where users have accurately predicted political events shortly before they occurred. The rise of these betting platforms, which operate with low barriers and use cryptocurrencies, complicates efforts to track and regulate such activities, prompting questions about potential conflicts of interest involving political figures.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]