U.S. federal authorities are preparing to bring a case against a service member accused of using advance knowledge to profit on Polymarket, according to The Wall Street Journal, which cited people familiar with the matter. The individual allegedly made more than $1 million by placing bets tied to military action. Those wagers reportedly included events linked to strikes involving Iran and Venezuela, and the person has been under scrutiny since the spring. The case is said to be part of a broader group of insider-trading actions now being prepared by authorities. People familiar with the matter also said the investigation is one of several focused on service members who traded war contracts, a category of prediction-market bets tied to the timing and outcome of military operations. Separately, U.S. authorities are also investigating a KPMG employee accused of betting that a company’s results would come in above broad market expectations.
U.S. federal authorities are preparing to sue a service member accused of placing bets on military action through Polymarket and making more than $1 million from those trades, according to The Wall Street Journal, citing people familiar with the matter.
Those people said the case is part of a coming batch of insider-trading actions. The service member, who has been under scrutiny since the spring, allegedly placed successful wagers in prediction markets tied to military strikes involving Iran and Venezuela.
The matter is also described as one of several investigations into service members who traded war contracts. Those contracts involve bets on the timing and outcome of military operations.
Separately, U.S. authorities are also investigating a KPMG employee accused of betting that a company’s earnings would come in above broad market expectations.
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.
