The next time some asshole says something stupid about betting markets and politics, like "More accurate than polls, because real money is on the line" it's worth reminding them that as with any market prices can be manipulated. And that's apparently the case with Peter Thiel's Polymarket recently. Just four accounts have flooded the market with $30mil in bets recently, distorting or inflating Trump's chances against Kamala Harris. Unlike with stock exchanges, there are no safeguards against price manipulation.
Similar Stories to Price Manipulation At Polymarket Has Trump's Odds Soaring on Bing News
Ed Scarce, The Daily Dot
Fri, 10/18/2024 - 10:43am
BING NEWS:
- Polymarket: 40% Chance Trump Creates U.S. Bitcoin Reserve
A recent Polymarket poll shows 40% believe President-elect Trump might create a U.S. Bitcoin reserve, stirring debates on its role in national finances. With nearly 200,000 Bitcoins already held by ...
01/4/2025 - 9:28 am | View Link - XRP ETF Approval Odds Surge To 70% On Polymarket Amid Optimism Over Donald Trump Administration
Odds on the approval of an XRP ETF surged to 70% on Polymarket amid optimism surrounding Donald Trump’s incoming administration.
01/2/2025 - 9:24 pm | View Link - More
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