Polymarket Influencer Car Disputes Bloomberg Report Alleging Large-Scale Insider Trading

A Polymarket influencer known as Car disputed a recent Bloomberg report that alleged large-scale insider trading on Polymarket and said the reported profits were overstated. According to Foresight News, Bloomberg reported it had identified a wallet that profited $1.5 million through alleged “insider trading” in an Iran-related market. Car said the wallet belongs to a regular user he knows and is not an insider, adding that the actual profit was about $300,000 rather than $1.5 million. He said Bloomberg counted trading volume from frequent buying and selling within an 80% range as profit, which he argued significantly distorted the data. Car also said the account previously lost about $120,000 in a “peace agreement” related market, which he said Bloomberg did not mention. He added that Polysights data used in the report flagged thousands of normal trading accounts, including sports and crypto market traders, as “suspicious,” and said most of those accounts were not insider traders.