Investigations reveal that about 30% of the activity on Polymarket regarding the 2024 U.S. Presidential election may be attributed to wash trading, a tactic that inflates transaction volumes. Chaos Labs and Inca Digital reported a discrepancy between the actual transaction volume of $1.75 billion and the $2.7 billion reported by Polymarket. The platform miscounted shares in whole dollar amounts despite them trading for less than a dollar. As of now, Donald Trump holds a substantial lead with odds of 65.5%, up from a narrow contest with Kamala Harris. Polymarket aims to clean up its platform after this investigation revealed attempts at market manipulation, with identification of users linked to significant pro-Trump betting activity. After the initial findings, further transactions were noted, but they were not directly connected to the identified trader.

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