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Polymarket suspended trading on its international site after hackers stole roughly $2.6 million from about 700 traders, according to the Wall Street Journal. The company says the breach stemmed from a flaw in DebugBear, a third-party website monitoring tool, and has pledged to reimburse affected users. Polymarket's website was inaccessible at the time of reporting.
Polymarket paused trading on its international platform for about an hour on Thursday after a security incident affecting third-party provider DebugBear, a UK website-monitoring company. Polymarket said it identified and fixed the issue, resumed trading, and pledged to fully reimburse any affected traders. The company also referred the matter to UK law enforcement.
Verifact Markets, a startup incubated by Peter Wokwicz's Positron Capital Management, launched Friday with trading on 'disputed facts' rather than future events. Initial markets let traders bet on whether Jeffrey Epstein died by suicide, whether State Farm intentionally delayed LA wildfire claims, and whether Covid-19 originated from the Wuhan Institute of Virology, with 'true' currently priced at 76 cents on that question.
Prediction market Polymarket allowed a scheme involving stolen debit cards to proceed despite internal warnings, with CEO Shayne Coplan reportedly dismissing concerns raised about the fraud. The company is now moving to strengthen its executive leadership team as it positions itself for a potential public listing.
Prediction market Kalshi issued its first-ever lifetime ban to former congressman George Santos after finding he bet on markets tied to his own attendance at Trump's State of the Union address while publicly making misleading statements to move contract prices. Kalshi's compliance team found Santos profited nearly $18,000 from the scheme and fined him $71,356, while the CFTC separately ordered him to return his profits and paid its own $17,500 penalty.
Prediction market Kalshi has permanently banned former Rep. George Santos after finding reasonable cause he bet on whether he would attend Trump's State of the Union address, allegedly netting him nearly $18,000. Kalshi also fined him over $71,000 and separately suspended or penalized several other political candidates, including Ben Midgely, Laurie Buckhout and Stephen Cloobeck, for allegedly wagering on their own races.
Prediction market Kalshi has teamed up with The Weather Channel to verify outcomes of trades tied to weather events, including bets on record temperatures and extreme conditions. The partnership aims to add credibility to Kalshi's weather markets by using an established meteorological source for settling wagers.
Kalshi, an online prediction market, announced it has permanently banned former Republican Congressman George Santos after determining he likely used insider knowledge to profit from a bet against his own attendance at the State of the Union address. The company said this marks the first permanent ban it has ever issued.