Confusion as Polymarket Announces Zohran Mamdani’s “Collapse”
Polymarket caused confusion by announcing Zohran Mamdani's mayoral odds were collapsing, despite his high probability of winning.Summary
Polymarket, a major prediction market, issued a confusing announcement claiming Zohran Mamdani's odds of winning the New York mayoral race were collapsing, suggesting Andrew Cuomo could win. This statement bewildered the community because Mamdani's odds remained overwhelmingly high (above 90%) on the platform. Two main theories emerged for Polymarket's action: either the platform was trying to generate trading volume and profit by fueling rumors, or it was attempting to directly influence the election outcome. The latter theory is supported by the fact that Polymarket has seen increased investment from Trump-linked entities, and Mamdani is viewed as potentially hostile to the crypto industry, unlike other candidates. The article concludes that regardless of the motive, the incident highlights that Polymarket is not a neutral actor, especially given past accusations of enabling insider trading.
(Source：BeInCrypto)