A group of 19 linked Polymarket accounts placed concentrated bets over the past few months on earnings outcomes involving public companies audited by KPMG, according to The Wall Street Journal. The accounts made 42 trades and profited on 41 of them, producing a 98% hit rate and about $22,000 in cumulative gains. Blockchain analytics firm Bubblemaps said the wallets bet on 18 KPMG clients, including Wells Fargo, Home Depot, DoorDash, and General Mills, while funds moved in complex patterns across the 19 accounts, suggesting they may have been controlled by the same person or team.
The findings surfaced as U.S. law enforcement investigates a KPMG employee suspected of using Polymarket for insider trading. The Wall Street Journal had previously reported that the employee came under scrutiny for betting on whether listed companies would beat market expectations for quarterly results. So far, there is no confirmation that the newly identified account cluster is tied to that employee. Bubblemaps also said its analysis alone does not prove insider trading. KPMG said it has "zero tolerance" for trading on nonpublic client information and has tightened its monitoring. As prediction markets expand, insider-trading risks on Polymarket are drawing continued attention from regulators and law enforcement.
A cluster of 19 linked Polymarket accounts placed repeated bets over the past few months on earnings outcomes tied to public companies audited by KPMG, according to The Wall Street Journal. Across 42 trades, 41 were profitable, for a 98% success rate and roughly $22,000 in cumulative gains.
Bubblemaps said the accounts had bet on 18 KPMG clients, including Wells Fargo, Home Depot, DoorDash, and General Mills. The firm also found that funds moved in complex patterns among the 19 accounts, pointing to the possibility that they were controlled by the same person or team.
The discovery comes while U.S. law enforcement is investigating a KPMG employee suspected of using Polymarket for insider trading. The Wall Street Journal previously reported that the employee was being examined over bets on whether listed companies would beat market expectations for quarterly earnings.
There is still no confirmation that the account cluster identified in this case is connected to that employee. Bubblemaps said its analysis, by itself, does not establish insider trading.
KPMG said it has "zero tolerance" for trading based on nonpublic client information and that it has strengthened related monitoring. With prediction markets expanding quickly, insider-trading risks on Polymarket remain under scrutiny from regulators and law enforcement.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
