Marc Hochstein is CoinDesk's Deputy Editor-in-Chief for Features, Opinion, Ethics and Standards. He holds BTC above CoinDesk's disclosure threshold of $1K and de minimis amounts of other digital assets (details in bio).
Prediction market Polymarket is"rife" with wash trading, a type of market manipulation that's illegal in traditional finance and involves the identical person acting as both buyer and seller on a given trade, Fortuneon Polymarket, cited research done by two blockchain analytics firms. One, Chaos Labs,"concluded that around one-third of trading volume — and overall users — on the presidential market alone was likely wash trading, along with across all markets.
In a post on X , prominent crypto investor Nic Carter suggested that airdrop farming would be the most plausible driver of any such activity, rather than political shenanigans.tracked activity on Polymarket But he took issue with a secondary claim in the article, which called it an"anomaly" that Polymarket counts each trade as $1 in volume, even when a trader paid as little as a cent for a"yes" share in Hillary Clinton winning this presidential election.
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