Senator Chris Murphy, from Connecticut, is now proposing to regulate these platforms, as he commented on allegations of insider trading happening in bets linked to the ongoing combat.
“It’s insane this is legal. People around Trump are profiting off war and death. I’m introducing legislation ASAP to ban this.”
Murphy’s statements come as a response to a report hinting at six suspected insiders who profited from a bet that sought to ascertain the time of the U.S. strike on Iran. Nonetheless, he did not explain whether a bill will be introduced in the coming days or if he will seek bipartisan support for this initiative.
Bubblemaps, the onchain analytics platform that released the report, stated that these six accounts made over $1.2 million with these movements. All of these accounts were funded during the 24 hours before the strike, specifically betting yes on February 28 as the day the attack on Iran would be launched, just hours before it happened.
Polymarket has ties to the current administration, as Donald Trump Jr. was listed as an advisor to the company after receiving a double-digit million-dollar investment from 1789 Capital, a firm where Trump Jr. is also listed as a partner.
FAQHow much profit was allegedly made by insiders linked to these bets?Six accounts reportedly profited over $1.2 million from bets predicting the timing of a U.S. strike on Iran.
