The prediction market Polymarket has skyrocketed into mainstream consciousness during the 2024 U.S. elections, with the platform reporting that users have placed $2.7 billion in bets over whether Donald Trump or Kamala Harris will be elected president in early November.
But analysts at two crypto research firms have found evidence of rampant wash trading on Polymarket, even as its odds have been shared widely across social media and mainstream media outlets. Donald Trump currently has a 67% chance of winning, according to the platform.
