Polymarket shelves nuclear detonation markets after outcry

Polymarket, a prediction market platform, has removed contracts that allowed users to bet on the probability of nuclear weapon detonations. This decision came after public outcry and scrutiny regarding potential insider trading, particularly in light of the current conflict with Iran. These markets, while historically resolving to 'No,' had seen significant trading volume – over $1.7 million for a contract expiring in 2025 and nearly $700,000 for a 2023 version – and occasionally indicated perceived risk, with one contract implying a 19% chance of detonation in 2023. The move also follows criticism of prediction markets after a trader profited from bets on the ouster of Venezuelan leader Nicolás Maduro. U.S. regulators are currently considering rules to oversee prediction markets, with proposed regulations potentially barring contracts tied to events like war and terrorism.

(Source：CoinDesk)