Polymarket KOL Refutes Bloomberg's 'Insider Trading' Report: Wallet Belongs to an Ordinary User Known to Them, Not an Insider

Foresight News reports that Polymarket KOL Car posted a tweet refuting Bloomberg's recent report alleging large-scale insider trading on Polymarket. Previously, Bloomberg claimed to have identified a wallet that profited $1.5 million through 'insider trading' in markets related to Iran. Car stated that the wallet belongs to an ordinary user known to them, not an insider, and the actual profit was only around $300,000 (not $1.5 million). Bloomberg included the trading volume of frequent buying and selling within the 80% range as part of the profit, leading to severely distorted data. Additionally, the account had previously incurred a loss of approximately $120,000 in markets related to the 'peace agreement,' which Bloomberg did not mention. The Polysights data used by Bloomberg flagged thousands of normal trading accounts (including sports and crypto market traders) as 'suspicious,' while the vast majority of these accounts are not insider traders.