Polymarket investigates bets on Israel election

Polymarket is investigating unusually timed bets placed shortly before polls closed in Israel’s October 27 election, after newly created or funded accounts backed Benjamin Netanyahu and his Likud party and some bets became profitable. A Polymarket spokesperson said the company was launching an investigation, while its internal investigative team told Bloomberg it was reviewing dozens of newly created wallets. The bets were placed before voting ended, according to reports describing the activity. The review has not established that traders used confidential information. Bubblemaps said 101 Polymarket accounts received their first funding on election day before polls closed. That figure refers to accounts funded for the first time that day. A separate report identified more than 600 wallets created on a single day that backed either Netanyahu winning or Likud finishing first; the two counts use different criteria. Some accounts reportedly cashed out more than $100,000 after exit polls indicated that Likud had won more seats than early reports suggested. Other wallets had gains that had not yet been realized. One analysis cited in a report said a user made a $28,000 profit on a...