Polymarket Probes Hundreds of Israel Election Wallets

Polymarket is investigating hundreds of newly created accounts that placed bets shortly before Israel’s Oct. 27 election, largely backing Prime Minister Benjamin Netanyahu and his Likud party. Blockchain analysts flagged concentrated activity on fresh wallets, including 101 accounts first funded before voting ended; some traders reportedly earned more than $100,000, though the share of total trading volume involved is unclear. The bets became profitable after exit polls favored Netanyahu, but investigators have not established that traders used confidential information, and no one has been publicly accused of wrongdoing. The episode adds to concerns about insider trading and market manipulation on prediction platforms, prompting U.S. lawmakers to seek answers from Polymarket and Kalshi and Polymarket to announce additional election-market monitoring.