According to a report by the WSJ on September 12, a group of 19 interconnected Polymarket accounts concentrated their bets on the financial reports of listed companies audited by KPMG over the past few months. They won 41 out of 42 trades, achieving a 98% success rate, and accumulating profits of approximately $22,000.
Bubblemaps analysis revealed that these accounts had bet on 18 KPMG clients, including Wells Fargo, Home Depot, DoorDash, and General Mills, with funds flowing in complex transactions between 19 accounts, suggesting they were controlled by the same person or team.
It is worth noting that this investigation comes amid a U.S. law enforcement investigation into a KPMG employee suspected of insider trading using Polymarket. The Wall Street Journal previously reported that the employee was being investigated for betting on whether a company's quarterly results would exceed market expectations. It cannot yet be confirmed that the discovered group of accounts is linked to this employee, and Bubblemaps also emphasizes that the analysis itself cannot prove insider trading.
KPMG stated that it has "zero tolerance" for trading using non-public client information and has strengthened related monitoring. As the prediction market rapidly expands, the insider trading risks associated with Polymarket are receiving increasing attention from regulators and law enforcement.