Following a flurry of lucrative bets on a US-Iran ceasefire, US lawmakers are pushing for a probe into the prediction market platform Polymarket. According to the Associated Press, a surge of at least 50 new accounts placed bets on the ceasefire mere hours and minutes before former President Trump’s announcement on Tuesday, yielding hundreds of thousands of dollars in profits. In response, Democratic Congressman Ritchie Torres has written to the country’s derivatives regulator, questioning the statistical likelihood of a winning bet being placed just 12 minutes prior to the presidential announcement, and seeking clarification on whether insider knowledge may have been involved.
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