Polymarket probes suspicious trades around Israel election, Bloomberg News reports

Oct 29 (Reuters) Prediction market operator Polymarket is investigating a string of well-timed and profitable trades on Israel s election this week, according to a report ​by Bloomberg News on Thursday. Shortly before polls closed ‌on Tuesday, hundreds of newly created accounts placed bets on Prime Minister Benjamin Netanyahu retaining his position and his Likud party winning the most seats, the report said. It added that those trades quickly became ‌profitable — ​and together some of the accounts ⁠already cashed out over $100,000 — ⁠after some exit polls showed Netanyahu s party had won more seats than early reports suggested. Many wallets have significant gains that have not yet been realized, the report ​said. Polymarket is reviewing dozens of newly created wallets that traded on the election, its internal investigative team told Bloomberg. ⁠Meanwhile, data analysis firms Polysights ⁠and Bubblemaps also flagged the activity as ​suspicious and said they were investigating, Bloomber