Polymarket blocks accounts after suspicious election-market trading

Polymarket said it investigated and blocked accounts linked to suspicious trading in election markets that generated over $600 million in volume, WIRED reported. Most activity involved losing candidates, with trading continuing after election outcomes were effectively settled. An analysis by MSR Decode found over 38,000 rapid trading loops after Ethiopia's election; over 98 percent left neither side with a gain or loss. Researchers suspect traders were inflating activity in anticipation of a possible cryptocurrency token allocation. Economist Rajiv Sethi cautioned that apparent wash trading does not always establish manipulation because traders' identities are unknown.