An anonymous trader made over $300,000 by betting on President Biden’s last-minute pardons during his final hours in office. The trader placed significant bets on Biden pardoning his brother Jim Biden, Liz Cheney, Adam Schiff, and Adam Kinzinger, all critics of former President Trump, despite none facing charges. These pardons were seen as protection against potential future prosecutions. The trader also bet on a pardon for Biden’s son, Hunter, over gun and tax charges. The analytics firm Bubblemaps, using AI, linked two accounts with perfect betting records on these pardons, suggesting possible insider information. This raises concerns about profiting from confidential government information, especially as similar bets on federal policy and military actions gain scrutiny.
QUESTION: How might the use of insider information in betting markets impact public trust in government decisions?
A Polymarket trader made $300,000 betting on Biden’s pardons, a new analysis shows
