"Overnight, Polymarket took down a market that allowed users to trade on where a nuclear weapon would detonate by March 31, June 30, or simply before 2027. Traders who bet yes on any of those timelines would be paid out if there were a nuclear detonation anywhere on Earth, including in an offensive use, a test, or even an accidental detonation."
"The suspension came after several users on X expressed outrage about the existence of the market, particularly amid a raft of suspicious trades on the platform in the wake of the killing of Iranian Supreme Leader Ali Khamenei."
"After an anonymous Polymarket trader made over $400,000 on a suspiciously well-timed bet on Venezuelan President Nicolás Maduro's political future, a lawmaker introduced a bill to ban prediction market insider trading by government officials."
Polymarket shut down a prediction market allowing users to wager on nuclear weapon detonations occurring by specific dates through 2027. The market had accumulated over $650,000 in trading volume and would have paid out bettors if any nuclear detonation occurred globally, including tests or accidents. The removal followed significant online criticism, especially after suspicious trading activity emerged following Iran-related geopolitical events. Polymarket has not clarified the reason for the shutdown or whether users will receive refunds. This incident reflects ongoing concerns about prediction markets hosting sensitive geopolitical events, particularly after previous controversies involving suspicious trades on Venezuelan political outcomes.
Read at Business Insider
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