P2P.me Faces Insider Trading Allegations Over Polymarket Bets
P2P.me is accused of insider trading after betting on its own fundraising success on Polymarket using non-public information.Summary
Cryptocurrency payments platform P2P.me is facing allegations of insider trading related to a $20,000 bet on the prediction market Polymarket concerning its own $6 million fundraising round. P2P.me disclosed placing the bets ten days before the round opened publicly, at which time they already had an oral commitment for $3 million from venture capital firm Multicoin, information some observers deemed material and non-public. The company admitted that not disclosing the trade at the time was a mistake, characterizing the bet as a "vote of confidence" and a misguided "guerrilla marketing stunt" intended to signal conviction, noting they deliberately named the account "P2P Team." P2P.me ultimately raised $5.2 million and profited about $14,700 from the trade, which they announced would be routed to the MetaDAO Treasury. The incident occurs amid explosive growth in prediction markets and increasing regulatory scrutiny over insider trading on these platforms.
(Source：BeInCrypto)