Government officials should NOT be allowed to profit from military moves or political events
Government officials should NOT be allowed to profit from military moves or political events
- Wed, Apr 22 2026 at 3:46 PM
AP News: “Newly created Polymarket accounts bet big on US-Iran ceasefire in hours before Trump's announcement.”
Prediction markets now allow people to bet on elections, sports, government and military actions—and some bettors have cashed in massively with well-timed bets.
We need to crack down on bad actors, insider trading and the manipulation of government actions for profit.
Mark,
Over the last few months, prediction markets have been in the spotlight after some bettors made huge sums of money off of suspiciously timed bets.
According to CNN, one trader has made nearly $1 million on Polymarket since 2024 with dozens of well-timed and remarkably accurate Iran bets.
According to NPR, in February, a user known as "Magamyman" made more than $553,000 placing bets about Iran and its leader, Ayatollah Ali Khamenei, just before an Israeli strike killed him.
According to AP News, at least 50 accounts placed substantial “Yes” bets before Trump announced the US-Iran ceasefire. These were the first bets made by these particular wallets.Mark, these well-timed bets have raised concerns about insider trading and corruption and they undermine trust in our government.
Government officials should NOT be allowed to profit from military moves or political events. In fact, betting on any of that should be banned across the board. Our democracy is not a casino.
Thanks for standing with us,
Debra Perlin
VP of Policy
CREW
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