this post was submitted on 18 Apr 2026
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Sixteen bets made $100,000 accurately predicting the timing of the US airstrikes against Iran on 27 February. Later, a single user would make over $550,000 after betting that Ayatollah Ali Khamenei would topple, just moments before his assassination by Israeli forces. On 7 April, right before Donald Trump announced a temporary ceasefire with Iran, traders bet $950m that oil prices would come down. They did.

These bets and other well-timed wagers accurately predicted the precise timing of major developments in the US-Israel war with Iran, creating huge windfalls and raising concerns among lawmakers and experts over potential insider trading.

Betting – once largely siloed to sporting events – has now spread to include contracts on news events where insider information could give some traders an advantage.

The proliferation of online betting markets like Polymarket and Kalshi has allowed bets on virtually any news event. It’s also easier than ever to buy commodity derivatives like oil futures, where traders gamble on what the price of oil will be in the future.

Leaders of some US federal agencies and some members of Congress said they want to crack down on suspicious trading taking place across different marketplaces, but it’s unclear how much leeway regulators will make.

“Is the problem that we don’t have legislation or that we don’t have enforcement capabilities?” said Joshua Mitts, a law professor at Columbia University. “To have a law that can’t really be enforced effectively given the technological limitations, it’s sort of putting the cart before the horse.”

top 29 comments
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[–] Formfiller@lemmy.world 4 points 1 hour ago

Maybe we deserve to go extinct

[–] Insayn@reddthat.com 9 points 6 hours ago

Make all payouts over $1000 fully public record. Period. There should be ZERO anonymity for anyone who profits from this.

[–] cashsky@sh.itjust.works 9 points 7 hours ago (1 children)

People betting on shit like this are dumber than doorknobs. Signing up to getting robbed voluntarily. Gambling in general is stupid but this is especially stupid.

[–] Furbag@lemmy.world 2 points 1 hour ago

It isn't gambling if you know what the outcome is going to be.

If the people betting on these polymarket shares were in a casino, they would have been escorted out long ago.

[–] flandish@lemmy.world 5 points 7 hours ago

capitalism. this is just the owning classes playing games.

[–] patruelis@lemmy.world 6 points 8 hours ago

Corruption at its best!

[–] TryingToBeGood@reddthat.com 16 points 16 hours ago

This entire administration needs to go to prison.

[–] itisileclerk@lemmy.world 8 points 16 hours ago

What do you mean "What is going on?". It's Capitalism at it's best, converting peoples missery into proffit. In USA they found the way to convert peoples stupidity into profit. When you calculate how many idiots are living in USA profits are huge. For that Donald Trump deserve Nobel Prize in Economics.

[–] 0_o7@lemmy.dbzer0.com 18 points 1 day ago* (last edited 1 day ago)

USA is profiting off of fake wars for half a century is what's going on?

Trump is just making it blatantly obvious because nobody ever tried to hold them accountable before.

[–] Typhoon@lemmy.ca 76 points 1 day ago (1 children)

Traders placed over $1bn in perfectly timed bets on the Iran war.

It's spelled "traitors"

[–] Railcar8095@lemmy.world 14 points 1 day ago (1 children)

Traders placed over $1bn in perfectly timed bets on the ~~Iran~~ traitors war.

Happy now?

[–] otp@sh.itjust.works 7 points 1 day ago (2 children)

Traders placed over $1bn in perfectly timed ~~bets~~ traitors on the Iran war.

FTFY

[–] poolcritter@pawb.social 4 points 13 hours ago

Traders placed over $1bn traitors' perfectly timed bets on the Iran war.

FTFY

[–] osanna@lemmy.vg 10 points 1 day ago (1 children)

traitors traitors traitors traitors traitors

Am I doing this right?

[–] Zink@programming.dev 3 points 16 hours ago

traitors traitors buffalo buffalo buffalo traitors

[–] spacesatan@leminal.space 16 points 1 day ago* (last edited 1 day ago)

Kind of funny that it was comparatively peanuts on polymarket and then 1 billion on oil futures and everybody is talking about the prediction markets. Especially kalshi who are mostly just catching strays here. It's hard to even find anybody pointing at specific suspicious trades on kalshi when they do KYC and ban people they catch insider trading.

Prediction markets are the insider trader's wet dream. Enjoy while it's unregulated and offshore!

[–] Bwaz@lemmy.world 24 points 1 day ago

Pretty easy to guess what's goimg on.

[–] ThunderQueen@lemmy.world 30 points 1 day ago* (last edited 1 day ago)

"we built a public gambling app that you can gamble on anything with that has little to no guardrails" "why are people using our gambling app for insider trading a war????"

[–] SarcasticMan@lemmy.world 24 points 1 day ago

Whats going on? It is called treason and Market manipulation.

[–] Donkter@lemmy.world 40 points 1 day ago (1 children)

"WhAt Is GoInG oN???¿‽"

Followed by that article. Horrific journalism.

[–] Hypnotoad_@sh.itjust.works 25 points 1 day ago (1 children)

"is the constant and obvious corruption exactly as it seems? Read more to find out. Also Kraft Mac and cheese is $2.99 at Walmart this weekend!"

[–] Illegalmexicant@lemmy.world 3 points 1 day ago (1 children)

Say what? Is kraft past its date still good? At least milk and butter is still cheap....right?

[–] Zahille7@lemmy.world 1 points 1 day ago

I figure if it's a dry powder, it should be good.

[–] Gates9@sh.itjust.works 15 points 1 day ago (1 children)

So Iran can watch the betting markets for signals of imminent attacks

[–] yakko@feddit.uk 6 points 1 day ago

A lot of these trades were timed to occur very close to the fact. It would be easier to just characterize this administration as prone to occasional random behaviours and sudden movements. Like an angry little monkey.

[–] GutterRat42@lemmy.world 24 points 1 day ago

And Kalshi and Polymarket don't care because they make money regardless. But this is a national security threat. Other countries just need to check the odds and who is betting and can get free and easy intelligence

[–] mriormro@lemmy.zip 5 points 1 day ago

We’re so fucking stupid, man.

[–] etherphon@piefed.world 3 points 1 day ago

Disgusting.