All posts tagged "Polymarket"

Republican insiders watching President Donald Trump's grip on power slip ahead of the midterms have started to use burner phones while it's believed that some staffers are wagering on prediction markets, according to a report.

Polymarket, an online prediction market platform, has suggested as of Tuesday that Democrats have an 84 percent chance of taking control of the House and 51 percent chance of winning back the Senate, The i Paper reported. Democrats need three House seats and four Senate seats to flip Congress to blue.

Trump's dropping approval rating and the Iran war have left Republicans increasingly concerned about November. ...

A GOP congresswoman wants to pardon the U.S. special forces soldier who was arrested after winning $400,000 by betting on the capture of former Venezuelan President Nicolás Maduro.

"Maybe not a popular take but I am calling for this guy to be pardoned," Rep. Anna Paulina Luna (R-FL) posted Thursday on X.

Earlier in the day, a Manhattan federal court unsealed an indictment of Gannon Ken van Dyke, an active-duty member of the U.S. Army who bet $30,000 on the online prediction market Polymarket that Maduro would be out of power by the end of January. The U.S. military launched a raid and extradited him in early January. ...

A soldier for U.S. special forces has been arrested for winning a $400,000 bet that former Venezuelan President Nicolas Maduro would be out of power by January.

CNN reported on Thursday that the soldier opened an account on Polymarket, which allows people to make bets on nearly anything, and placed a $32,000 bet on Maduro's capture. Law enforcement noticed the long-shot bet right away, according to CNN.

U.S. military forces covertly raided Maduro's presidential palace in early January, leading to his extradition to New York on drug charges that he denies. Unknown gamblers have been creating accounts on prediction markets like Polymarket and Kalshi and winning big ahead of events like U.S. strikes in Iran. ...

Federal prosecutors were determining if prediction market bets have violated insider trading laws, according to a CNN report Monday.

The heads of the securities and commodities fraud unit in the U.S. attorney's office for the Southern District of New York reportedly met with Polymarket representatives to learn more about how existing laws could be interpreted as part of an investigation into possible misconduct.

Polymarket is one of the leading prediction betting platforms in the growing industry and follows the Department of Justice's inquiry over potential lucrative trades that happened around the capture and arrest of Venezuelan President Nicolás Maduro on Jan. 3. ...