Thursday 26/March/2026 – 11:26 PM
A recent report revealed that a suspicious trader on the Polymarket betting platform made profits exceeding $2.14 million, after making precise bets on US military movements towards Iran, sparking widespread controversy about the possibilities of trading based on inside information.
A bettor makes millions from the Iran-Israel war
According to an analysis of blockchain data, the suspected user was managing 38 separate accounts that achieved almost complete success rates, before their profits were later directed to a single deposit address on the Coinbase platform, which made it easier to track financial activity despite attempts to hide the identity.
Experts tracking cryptocurrencies pointed out that the trading patterns appeared unprofessional, as the accounts showed identical behavior in the timing of bets, which reinforced doubts about the existence of a single entity managing them.
The controversial activities began in late February, when a number of accounts were opened and funded through various financial platforms, before they began making successive bets on military events, some of which were not officially announced at the time.
In a related context, trading data showed that some accounts made quick profits from bets on other political and military developments, including events related to Venezuela, which further complicated investigations into the nature of these operations.
Despite the escalating controversy, the Polymarket platform confirmed that it continues to work on updating its rules to prevent trading using inside information or illegal means, in an attempt to control the growing predictive market.
But experts in blockchain technology stressed that tracking such operations is still possible relatively easily, while the issue of legal prosecution remains complicated due to the cross-border nature of these markets.
