Polymarket Investigation

The election craze still ongoing and a lot of betting markets were involved in predicting the outcome and allowing people put their pundit hats on and make profit. One of these services in DeFi space was Polymarket who got into a drama recently which we are investigating. So what basically happened on November 9th is that they made a tweet regarding one of their betting markets

Now you may think in certain circumstances this is normal procedure then again, when you actually go to the betting market itself the position was supposed to close on November 20th not on the 9th, even if odds would've been abysmal it would have allowed people to still trade their position and hence make changes. 

• Now other dilemma here is that the sources they inherently used were very Pro-biden and context here is also the fact that any of these 3 organizations could have easily retracted their statements who is the actual winner of any given state.

If you go throw the actual twitter feed you can definitely see that people were really upset about the matter and it was not handled morally or professionally. 

In general you have to respect the given market end dates. There is also belief among protestors of the decisions that they were voting for biden to win and wanted to cash out their own money when the bid was higher. So far the team has not come out with any evidence that they haven't been participating betting on this specific betting market.

When you actually go through their linkedin profiles, you can see that vast majority of the team resident in New York, which is overwhelmingly blue state. Also given how they have talked in past interviews on other publications also shows that they are supporting very left leaning policies. 

Polymarket received 4M in funding earlier this year and it comes to me bit shocking that they would start out doing such a sketchy move during their beta period.

Now you can make your own conclusions, I'm just here to break down the story.