Ah, the sweet smell of deception wafting through the digital halls of Polymarket. A Columbia study has unmasked the grand illusion-an elaborate performance where nearly a quarter of all trades over three years were nothing more than a well-rehearsed ballet of wash trading. Yes, folks, the numbers were inflated, the volume artificially pumped, and the platform itself? Innocent bystander, or perhaps just too lazy to notice the smoke and mirrors.
Imagine a world where one trader is also many traders, each pretending to be interested, each pushing up the numbers like a kid blowing into a birthday cake. About 25% of all transactions-so says Columbia, with a hint of sarcasm-were just the same person playing both sides of a game, turning polished numbers into a glittering, empty spectacle.
The ratings of fakery peaked in the sports markets-almost half of all trades, no less-while elections and politics held a measly 17% and 12%. Crypto, bless its chaotic heart, went relatively untouched at 3%. The platform? Not the villain, just a welcoming stage for theatrical traders, cloaked in an innocent guise. Who’s really responsible? Well, that’s still a debate for another day, but don’t hold your breath for an apology.
A spokesperson, probably hiding behind the curtains, said they’re reviewing the report-probably adding some dramatic music behind the scenes.
Suddenly, everyone’s favorite prediction playground is booming like a summer fire-hit record highs and all that jazz. Over 477,000 traders in October! That’s almost enough to fill a small city, and more than double last month’s volume, crossing the mystical $3 billion mark.
This latest spectacle? Thanks to a shiny new POLY token, an airdrop extravaganza, and the hope of an American comeback, because what’s a market without a little bit of hope and a lot of hype?
Meanwhile, the industry-wide fever continues. Kalshi, the rival, recorded over $4.4 billion in trades-because everyone loves a good gamble, especially when real money is involved, and the smoke and mirrors are just part of the game.
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2025-11-07 10:28