$170M Polymarket bets placed hours before US-Iran ceasefire

The incident has once again put the spotlight on previous cases where new accounts placed large bets on geopolitical events. Blockchain tracking groups such as Lookonchain and Bubblemaps have highlighted instances where new accounts made significant profits by betting on similar events. A study by Columbia Law School and University of Haifa found trading patterns consistent with non-public information, estimating profits of around $143 million over two years.