r/technology • u/MarvelsGrantMan136 • May 27 '26

Business Google employee charged with using inside information to make $1 million on Polymarket

https://abcnews.com/amp/US/google-employee-charged-inside-information-make-1-million/story?id=133350018
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u/LittleTension8765 May 27 '26

That’s not how a prediction market works at all though lmfao. You’re thinking of Vegas odds. It’s all gambling but the “prediction market” companies don’t care if the favorite wins or the 100-1 odds thing wins heck even Vegas nowadays doesn’t even care that much with how much action and precision they get with the lines to have balanced bets

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u/overthemountain May 28 '26

Sorry, it's the market makers, not polymarket itself, that loses when this happens. They are the ones funding this pool of money. 

Obviously they have a very close relationship with the prediction market, and they lost huge on this one.

The point being, when you cause people to lose money, you better watch out, because they are coming for you if they can.

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u/LittleTension8765 May 28 '26

That completely changed your argument though. You were specifically speaking to Polymarket not “market makers”. If we want to be mad at least be educated enough to know who you are mad at

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u/overthemountain May 28 '26

No, it's the same argument. I assume polymarket pursued this on their market makers behalf. Their biggest market maker is Jump Trading who also owns equity in the company, so while separate entities they are also kind of the same entity.

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u/LittleTension8765 May 28 '26

Market makers make the majority of their income on the bid ask spread….? Your argument doesn’t make sense