The cryptocurrency prediction platform, which plays a critical role in the US elections, has begun to review transactions.

The identity and location verification of major investors on the platform is being conducted. Concerns about accessing the platform from the U.S. using a VPN have prompted action. Unlike voter polls, the ratios favoring Trump have accelerated the auditing process.

VPN Usage Challenges Platform Security

A total of $2.3 billion in prediction transactions has been opened in the "2024 Presidential Election Winner" market on Polymarket. A user with the alias "Fredi9999," one of the platform's largest investors, has made predictions totaling over $20 million in favor of Republican candidate Donald Trump.

Billionaire Mark Cuban stated that most of the investments are foreign-sourced. Cuban pointed out that this situation does not reflect U.S. voter trends. Kalshi founder Tarek Mansour argued that the platform's data is not a result of manipulation.

Polymarket reached a $1.4 million settlement with the U.S. commodities regulator because it offered over 900 event-based binary options markets without registration in January 2022. Following this experience, the platform tightened user audits.