Over $600 Million in Polymarket Election Trades Took Place After Races Ended
Contracts tied to elections in Ethiopia and Romania saw massive trading volumes after the outcomes were decided. “It’s obviously some form of volume manipulation,” one expert says.
Via WIRED
Two global election markets on Polymarket’s offshore platform, for instance, generated over $600 million in trading volume, far more than most political markets typically attract. Most of the activity took place buying and selling contracts tied to long-shot candidates who ultimately did not win.
This summer, Ethiopian prime minister Abiy Ahmed’s Prosperity Party cruised to victory in federal elections, winning 438 parliamentary seats and paving the way for him to serve another five-year term. The closest competitor won 13 seats…
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