1. United States
  2. Maine
  3. Letter

Investigate polymarket bets on politics & legislate to stop them

To: Sen. Collins, Sen. King, Rep. Golden

From: A verified voter in Lewiston, ME

April 10

Politics and polymarkets must be kept separate. I am sure you are aware of recent reports about this issue. Someone cashed in because Trump used the name Allah in an Easter social media post. The fluctuations in Trump's declarations, posts and other stunts in relation to the illegal war in Iran has also fuelled betting and payouts. It's been reported that: "Four crypto wallets made $663K (combined) after betting on a US-Iran ceasefire in Polymarket The accounts were created hours before • the ceasefire announcement— each made exactly one bet One of those accounts alone made $218,498 (a 1,115% return)." I'm sure many people are now wondering whether actions of state are being undertaken to serve participants in these markets -- or whether , conversely, polymarket bettors are using inside information about presidential actions? Congress should get to the bottom of this and then legislate to prevent it. It is beyond corrupt to think that the conduct of Trump's illegal, ill-advised, incompetent and deadly war in Iran is deeply intertwined with polymarket betting.

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