Political campaign posters showing Benjamin Netanyahu and opposition leaders at a market in Tel Aviv on Oct. 22.
Photographer: Kobi Wolf/BloombergBy Denitsa Tsekova, Leonardo Nicoletti, and Ben WeissUpdated on
Takeaways by Bloomberg AI
Polymarket is investigating a string of well-timed and profitable trades on the Israeli election this week in the latest case to raise concerns about potential insider trading on prediction markets.
Just before the polls closed on Tuesday, hundreds of new accounts placed bets that Benjamin Netanyahu and his Likud party would do better than opponents, according to a Bloomberg analysis of Polymarket’s blockchain ledger. Those trades quickly became profitable — and together some of the accounts have already cashed out over $100,000 — after some exit polls showed that Netanyahu’s party had won more seats than early reports suggested.
