Polymarket Geopolitics Wagers Reach Record as Iran War Escalates

Conflict-related betting on prediction markets hit a record last week as traders piled into wagers on the US-Israeli strikes on Iran, while blockchain analysts flagged suspicious activity and lawmakers called for a crackdown.

Bettors placed $425.4 million in wagers on geopolitics questions on Polymarket in the week ending March 1, up from $163.9 million the week before, according to user-compiled data on Dune Analytics. Across the site, total wagering reached a record $2.4 billion, up from $1.8 billion a week earlier.

The growth comes as critics question the legality and ethics of betting on military conflict. US regulations are broadly ...