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CryptoMediumUpdated•Originally published 28 February 2026•Updated 28 February 2026•

1 min read

New Evidence of Polymarket Insider Trading Emerges as One Trader Loses $6.5 Million

Key Facts

1Suspected insiders earned over $1.2 million on Polymarket by betting on U.S. military strikes against Iran.

3 months ago

Version History

Version 13 months ago

What changed: New evidence from Bubblemaps points to specific 'fresh' accounts profiting from the timing, and reveals a massive $6.5 million loss by a major contrarian trader.

Suspicious trading activity on the decentralized platform Polymarket has intensified following new evidence from Bubblemaps. The analysis platform identified several fresh accounts that netted approximately $1 million in profits immediately before the U.S. military strikes against Iran. While some profited from potential non-public information, others faced catastrophic outcomes, including one trader who lost $6.5 million betting against the occurrence of the attack. This volatility triggered a significant sell-off in Bitcoin (BTC), while oil futures on Hyperliquid surged as investors sought geopolitical hedges. The incident underscores the growing regulatory scrutiny facing prediction markets regarding market manipulation and the handling of sensitive information. Furthermore, the contrast between the 'fresh' account gains and the massive contrarian loss highlights the extreme risks of geopolitical betting.