Crypto

Fortune Claims Polymarket Is ‘Rife’ With Wash Trading

A recent article by Fortune has shed light on suspicions of market manipulation on Polymarket. The article, published approximately a week after initial concerns arose, referenced research conducted by two blockchain analytics firms.

One of the firms, Chaos Labs, conducted an analysis that suggested around one-third of trading volume and overall users on the presidential market may have been involved in wash trading. This dubious activity was also found across all markets on the platform. Meanwhile, the second firm, Inca Digital, identified a significant portion of the market’s volume that could potentially be attributed to wash trading.

These findings have raised concerns about the integrity and transparency of trading activity on Polymarket. Market manipulation, such as wash trading, can artificially inflate trading volume and mislead investors. It is essential for platforms like Polymarket to take steps to prevent and detect such manipulative practices to maintain trust and confidence among users.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry. What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content. As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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