US EditionForbes Daily : Online Bets Against Maduro Raise Insider Trading Concerns
Rep. Richie Torres targets insider trading in prediction markets after bettors profited $630,484 from bets made before Venezuelan President Maduro’s capture.
- Rep. Richie Torres, D-NY, is proposing a bill to bar federal election officials, political appointees and executive branch employees from trading on prediction markets tied to policy outcomes.
- A small group of Polymarket bets placed shortly before Maduro's capture include a $35,000 wager when the platform estimated a 6% probability, on January 3rd.
- One wallet was funded with $1 million hours before the TRUMP token launch, and the three bettors earned $630,484 combined, with suspicious moves as the meme coin hit over $40 billion market cap.
- A representative for Torres said news of the bets and the decision to move on Maduro made the bill more urgent, and he hopes to gain co-sponsors in the coming days and weeks.
- Kalshi said insider trading is prohibited while Polymarket has yet to respond, and a Polymarket trader on X linked suspicious bets to Domino's Pizza locations near the Pentagon amid recent U.S. seizures and drone strikes inside Caracas.
18 Articles
18 Articles
An unknown gambler made a $436,000 (9 million crowns) bet on the ouster of Venezuelan President Nicolás Maduro on the Polymarket platform shortly before the announcement of his capture. The unusual bet has sparked speculation that someone may have exploited inside information about the US operation for personal gain.
The capture of Venezuelan President Nicolas Maduro is a step back for the Chinese strategy in Latin America, complementing its plans to increase investment in the region, says Bloomberg.
Fox 17
A big Polymarket bet on Maduro's capture raises questions about an insider trading scheme
A small group of Polymarket bets placed shortly before Venezuelan President Nicolas Maduro's capture are prompting some to question the timing of the bets.
In Piazza Barberini, in the rain, about two hundred people protested against the U.S. military operation in Venezuela that led to the arrest and transfer to the USA of President Nicolas Maduro. Cgil, Anpi, Stop Rearm Europe and other organizations have manifested against, says Raffaele Bolini, a very lucid and rational design, that is the return to absolute monarchies where the king has the power to deal with everything he wants. "We are faced w…
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