Prediction market trader 'Magamyman' made $553,000 on death of Iran's supreme leader

It’s the latest trade drawing scrutiny on the popular prediction market site for appearing to show an insider making profits on military secrets.

An account trading under the username “Magamyman” made more than $553,000 placing bets on the prediction market Polymarket that Iran’s Supreme Leader, Ayatollah Ali Khamenei, would be out of power just before an Israeli strike killed him on Saturday.

The trades drew scrutiny from members of Congress and critics of prediction markets, who say the platforms invite people with access to classified information to profit on lethal military operations. On Polymarket alone, half-a-billion dollars was traded over when exactly U.S. forces would drop bombs on Iran.