April 11, 2026
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8:39Now PlayingCalls for Congressional investigations surge as suspicious bets placed right before Donald Trump announced a ceasefire deal amid controversy over oil execs making colossal amounts of money through stock market war chaos grows. John Iadarola and Tehran Von Ghasri break it down on The Damage Report. Leave a comment with your thoughts below!
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Welltimed bets on Polymarket tied to the Iran war draw calls for investigations from lawmakers
"NEW YORK — Calls are increasing inside Congress for investigations into the prediction market platform Polymarket after the latest instance where groups of anonymous traders made strategic, well-timed bets on a major geopolitical event hours before it occurred.
An app for Kalshi, an online prediction market site, is shown on a phone. Multiple states have tried to block the company from operating, citing state gambling laws. But the federal government has sued to block those state laws to allow Kalshi and other prediction markets to operate.
On Wednesday, The Associated Press reported that at least 50 brand new accounts on Polymarket placed substantial bets on a U.S.-Iran ceasefire in the hours, even minutes, before President Donald Trump announced the ceasefire late Tuesday on social media. These were the sole bets made on Polymarket through these accounts.
In January, an anonymous Polymarket user made a $400,000 profit by betting that Venezuelan leader Nicolas Maduro would be out of office, hours before Maduro was captured. In the hours before the start of the Iran war, another account made roughly $550,000 in a series of trades effectively betting that the U.S. would strike Iran and that Ayatollah Ali Khamenei would be removed from office."
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