The post Manipulation alert on Donald Trump vs. Kamala Harris prediction market appeared on BitcoinEthereumNews.com.

The prediction market Polymarket has gained popularity amid developments and speculations related to the United States presidential election. However, recent research suggests there could have been an attempt to manipulate the outcome of a derivative bet. On Friday, September 6, Dumpster DAO posted a thread on X looking into what the account called a manipulation attempt. The activity involved the dispute between Donald Trump and Kamala Harris a few days after Trump regained popularity, as Finbold reported. In summary, the investigator believes a group – or a single individual – tried to briefly manipulate the “Presidential Election Winner” bet to win the derivative market, speculating which candidate would be leading it on Friday’s closing. Interestingly, the manipulation attempt failed, with the involved entities losing over $60,000 in the derivative bet. Here is how it happened: 1/7 Three hours ago, a group of @Polymarket whale accounts tried to manipulate the Presidential Election Winner market in order to profit from a derivative market on who would be leading on Friday (today) pic.twitter.com/vSigWG1y4P — Dumpster DAO (@Dumpster_DAO) September 6, 2024 Diving deeper into the prediction market manipulation attempt The affected derivative bet was on whether Donald Trump or Kamala Harris would be the “Favorite to win on Polymarket on Friday,” based on the main bet “Presidential Election Winner 2024.” As Dumpster DAO reported, manipulators deployed over $9 million USDC to buy “yes” shares for Kamala Harris and “no” shares for Donald Trump, trying to make Harris surpass Trump and profit from the better odds against the favorite. Donald Trump bet on the presidential election winner. Source: Polymarket / Dumpster DAO At the same time, these users bought the related derivatives shares and bet on Kamala Harris. The activity momentarily changed its price from $0.02 to over $0.20, directly impacting the odds.  Kamala Harris…

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Filed under: News - @ September 7, 2024 4:14 pm