The group behind the P2P.me platform made a public confession by way of X, admitting to opening positions on Polymarket associated to their latest capital elevate. This confession confirms that the group guess on whether or not they would attain their $6 million funding aim, 10 days earlier than the launch. On the time of the guess, they solely had a $3 million verbal dedication from Multicoin Capital and no assure of allocations.
Finally, the funding spherical raised $5.2 million, leading to a shedding guess for the P2P.me group. The group acknowledged that buying and selling on data they may affect erodes belief and admitted it was a mistake to not disclose their participation on the time. Any proceeds from Polymarket income shall be directed to the MetaDAO treasury, which governs the platform, they usually have adopted a proper coverage in opposition to buying and selling in prediction markets associated to their very own actions.
This confession highlights ethics in prediction markets, that are already underneath legislative scrutiny in america for potential insider buying and selling. The incident happens as Congress strikes ahead with payments just like the “PREDICT Act” to ban lawmakers from buying and selling in these markets—particularly on issues of nationwide curiosity—rising regulatory strain on platforms like Polymarket and Kalshi to implement stricter countermeasures.
Supply:https://x.com/P2Pdotme/standing/2037560966041223415
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