The Green Beret was just the start: New data suggests military insider trading crisis on Polymarket
A Green Berets alleged $400,000 insider bet on a raid in Venezuela seemed like an isolated breach. A new report suggests it may be the visible edge of something broader. The Anti-Corruption Data Collective (ACDC), a nonprofit research group, analyzed every settled Polymarket contract from January 2021 through mid-March 2026 — more than 435,000 markets and $54.4 billion in cumulative volume — and found that low-probability bets on military and defense outcomes win at rates that are difficult to explain through skill or luck. Across political markets, such “longshot” bets typically succeed about 14% of the time. In military-linked contracts, success rates have topped 50% in some cases. “Markets tied to specific government policies, such as military and defense and foreign affairs, are harder to forecast using public information alone,” the authors wrote, making them “more susceptible to information asymmetries,” including insider trading or specialized knowledge. In those markets, the gap between informed and uninformed traders may be widest, creating conditions in which a small group can consistently outperform not just by reacting faster, but by knowing more. For its part, Polymarket touts its market surveillance teams and cooperation with the Department of Justice on the Venezuela case. Trading on confidential knowledge is prohibited on