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Fortune Claims Polymarket Is 'Rife' With Wash Trading

As much as a third of the prediction market's volume is inflated by traders acting as the buyer and seller — an illegal practice in TradFi — on the same trades, Fortune reported. Some could be doing it to farm a future token airdrop.

By Marc Hochstein|Edited by Nick Baker

Updated Oct 31, 2024, 12:27 a.m. Published Oct 30, 2024, 5:08 p.m.

Funny portrait of a welsh corgi pembroke dog showering with shampoo. Dog taking a bubble bath in grooming salon. — When a trader simultaneously buys and sells an asset, it's a wash. (iStock / Getty Images Plus)