Polymarket Reviews Suspicious Trades on Israel’s Election

Polymarket is reviewing dozens of newly created wallets that traded on Israel’s election, its internal investigative team said on Thursday, October 29. The review concerns markets on whether Benjamin Netanyahu becomes the next prime minister and whether Likud wins more seats than any other party. The trades took place shortly before polls closed on Tuesday, October 27. An initial blockchain analysis identified more than 600 wallets created on the same day, without previous trading histories, that backed Netanyahu or Likud. That wider group is distinct from the dozens of wallets the platform said it was reviewing. Some accounts had collectively cashed out more than $100,000, while others held unrealized gains after exit polls showed Likud doing better than earlier indications. Analytics firms Polysights and Bubblemaps said separately that they had flagged suspicious activity and were examining it. The initial findings remain inconclusive: profitable timing alone does not establish misuse of confidential information, and independent research or fortunate bets remain possible explanations. No enforcement finding or deadline for completing the review was announced. The trades can be examined because transactions on Polymarket’s cryptocurrency-based international platform are recorded on a public blockchain ledger.