Well-timed bets on Polymarket tied to the Iran war draw calls for investigations from lawmakers

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NEW YORK (AP) -- Calls are increasing inside Congress for investigations into the prediction market platform Polymarket after the latest instance where groups of anonymous traders made strategic, well-timed bets on a major geopolitical event hours before it occurred.

On Wednesday, The Associated Press reported that at least 50 brand new accounts on Polymarket placed substantial bets on a U.S.-Iran ceasefire in the hours, even minutes, before President Donald Trump announced the ceasefire late Tuesday on social media. These were the sole bets made on Polymarket through these accounts.