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Lawmakers Urge Probe into Prediction Market Activity Following Unusual Trades

A flurry of high-stakes bets on a US-Iran ceasefire by anonymous traders on the Polymarket platform has prompted a chorus of demands for investigation from US lawmakers. According to The Associated Press, a significant number of new accounts – at least 50 – placed lucrative wagers on the ceasefire mere hours and minutes before then-President Trump’s announcement on Tuesday, resulting in substantial profits of hundreds of thousands of dollars. In response, Democratic Congressman Ritchie Torres has written to the country’s derivatives regulator, questioning the statistical likelihood of such a winning bet being placed 12 minutes prior to the presidential announcement, and calling for a thorough investigation into the matter.

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