Polymarket turns to Palantir for sports betting integrity

Polymarket, the world's largest prediction market, said Tuesday it had formed a partnership with Palantir Technologies to monitor its sports betting markets

Polymarket, the world's largest prediction market, said Tuesday it had formed a partnership with Palantir Technologies to monitor its sports betting markets; a move that comes as the platform faces an intensifying wave of insider trading allegations.

The tie-up will use Vergence AI, a joint venture between Palantir and TWG AI launched last year, to monitor trades in near real-time, screen out prohibited participants and generate automated compliance reports.

Once dismissed as a niche crypto curiosity, prediction markets have burst into the mainstream in just a few years, striking partnerships with major news organisations as real-time forecasting tools, and positioning themselves as an alternative to both traditional polling and licensed sports gambling.

Polymarket allows users to buy and sell shares tied to the probability of real-world events, from election outcomes to military strikes.

But the growth and visibility have brought growing pressure on Polymarket and its archrival Kalshi over suspected abuse of privileged information.

Several accounts reportedly made around $1.2 million in profits on Polymarket after placing bets predicting US military action against Iran hours before the strikes began.