US | Newly created Polymarket accounts win big on well-timed Iran ceasefire bets
Customers make hundreds of thousands of dollars as records show substantial bets made before announcement
Archived version: https://archive.is/20260409002719/https://www.theguardian.com/business/2026/apr/08/polymarket-trump-us-iran-ceasefire
Disclaimer: The article linked is from a single source with a single perspective. Make sure to cross-check information against multiple sources to get a comprehensive view on the situation.
https://www.theguardian.com/business/2026/apr/08/polymarket-trump-us-iran-ceasefireOpen linkView original on lemmy.zip
Who are the owners of the platform and how are they staying profitable with all the insider trading going on?
The owners get a cut either way. The real question is why are these "well timed" bets not being investigated by the SEC as insider trading? It's either unlicensed/illegal gambling, or it's securities trading. It can't be neither, and it seems like the grey area is the only reason this company is allowed to exist.
If the owners get a "cut" who is paying out if not the owners
The people who lost the bet
So, the owners then. As you bet against the platform.
no, people bet against each other, the winners take the pot, the platform charges a fee for every bet.
The house always wins.