• Polymarket users favor Meteora in bets over ZachXBT crypto takedown Users placed more than $7 million betting on the outcome of the crypto sleuth’s investigation, expected to be announced on Thursday. • Cointelegraph in your social feed Users of prediction market platform Polymarket are making bets on which crypto platform will be the next target of online sleuth ZachXBT, known for investigations into scams and hacks. • As of Tuesday, Polymarketshoweda 29% chance that ZachXBT would name decentralized liquidity platform Meteora on Thursday as part of what was described as a “major investigation” into “one of crypto’s most profitable businesses.” The crypto sleuthsaidin a Monday X post that the investigation was related to allegations of insider trading. • According to ZachXBT, the investigation would reveal that multiple employees of the yet-unidentified exchange “abused internal data to insider trade over a prolonged period of time.” Polymarket users had the chance to bet on Meteora, MEXC, Axiom, Wintermute, and others ahead of the announcement. • As of Tuesday, users had wagered more than $7 million on the target of the investigation. • However, odds on Polymarket event contracts are based on user activity rather than insight into which company ZachXBT planned to announce.

Article Summaries:

  • Polymarket users are betting that crypto sleuth ZachXBT will name decentralized liquidity platform Meteora as the next target of his investigation into alleged insider trading. As of Tuesday, the prediction market assigned a 29 % probability to Meteora, with more than $7 million wagered on the outcome. ZachXBT’s investigation, announced on X, claims that employees of an unnamed exchange abused internal data to trade over a prolonged period. While the bets reflect user sentiment rather than insider knowledge, the case highlights growing scrutiny of prediction markets, as U.S. regulators and state authorities debate the legality of platforms like Polymarket.

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