Suspicion emerges that 30% of Polymarket's trading volume is wash trading

PolyMarket, a blockchain-based prediction platform, has emerged as a new powerhouse in the US presidential election prediction market, with some of its predictions being subject to "washouts."
Wash trading is the act of the same person repeatedly buying and selling the same asset to artificially inflate the volume of transactions.
According to reports, Chaos Lab and Inka Digital each released the results of their research on the US presidential election prediction market on PolyMarket.
The actual trading volume was $1.75 billion, down from $2.7 billion disclosed by PolyMarket.
This means that the total amount of the presidential election is significantly less than the total amount of the presidential election (approximately 410.9 billion yen). PolyMarket has a prediction market that uses a type of virtual asset trading to predict the probability of a presidential candidate winning.
To participate in voting, you need to purchase the stable coin USDC. You transfer this USDC to PolyMarket and enter the position of the candidate you want to vote for.
For example, in the current poly market, Republican candidate Donald Trump has a 66% chance of winning, surpassing Democratic candidate Kamala Ha Ri Su.
To win, one would need to purchase one Trump Victory position with 0.66 cents of USDC. If Trump wins on Election Day, the position price will drop to 1 cent.
Users who have purchased positions in advance can earn a profit.