Prediction markets platform Polymarket halted trading on Thursday after reporting that one of its third-party providers had been compromised, causing a “major outage” in its Predictions Trading API. The platform moved into “cancel-only” mode while it fixed the issue, and its latest status update said all systems were operational. Polymarket said it had referred the matter to relevant law enforcement and that anyone affected will be made whole. Meanwhile, several users claimed online that their accounts had been drained of thousands of dollars after their positions were sold without consent. The story is developing, and more information will be added as it becomes available.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Cointelegraph ↗
Keywords
Polymarketcybersecurityprediction markets
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/28/2026 | 81,343.50 |
| Change that session | +0.54% |
ETH/USDT
• NeutralEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $285.6B |
| Close on 10/28/2026 | 2,359.68 |
| Change that session | +0.40% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Polymarket brings ultra-short crypto prediction markets to U.S. platform
- Pentagon bans US forces from using military info to bet in prediction markets
US Defense Secretary Pete Hegseth has barred all Pentagon personnel from using nonpublic information to place wagers on upcoming military action, including on platforms such as Kalshi and Polymarket. In a memo sent Tuesday to senior Pentagon and defense agencies, he warned that enemies watch these markets and that financial stakes can distort judgment. The directive follows the April indictment of US Army soldier Gannon Ken Van Dyke, who is accused of using classified information about the operation to capture Venezuelan leader Nicolás Maduro to make more than $400,000 on Polymarket; he has pleaded not guilty. In February, Israeli authorities also arrested and indicted a military reservist and a civilian over alleged bets on Polymarket tied to Israeli strikes on Iran.
- Utah AG sues Kalshi, pursues profits from prediction market company
Utah Attorney General Derek Brown sued Kalshi, its affiliates and two Susquehanna trading companies, alleging the prediction market platform has facilitated illegal betting in the state since 2024. Utah asked the court to compel the companies to return about $30 million to $60 million in profits and to stop sports, election, politics and culture bets in Utah. The lawsuit alleges Kalshi illegally served more than 32,000 users in the state, causing significant losses. A judge had earlier ruled for Utah in August, and an appellate court denied Kalshi's injunction request in September. The case is one of many filed by states against prediction market platforms such as Kalshi and Polymarket, as the U.S. Supreme Court considers New Jersey's case.
- 15-Minute Markets For Cryptocurrency Prices Are Surging in Popularity. It's Easy to Predict What Happens Next.
Ultra-short-term prediction contracts on cryptocurrency price moves are growing in popularity, with Coinbase offering 15-minute contracts on Bitcoin, Ethereum and eight other major cryptocurrencies from Oct. 6, and Kalshi supplying the infrastructure. Financial Times reporting showed that five- to 15-minute contracts made up more than half of crypto betting on Kalshi and Polymarket as of March 2026. The author argues most bettors will lose money due to high fees and faster automated traders. A Galaxy Research report from Oct. 1 found that 69% of 2.9 million Polymarket accounts apparently run by people lost a combined $338.9 million, while 125,429 automated accounts gained $246.8 million. The author concludes that long-term investors have no good reason to use these contracts as a hedge or for returns, and expects tighter regulation to follow.
- Polymarket CEO Shayne Coplan Says Crypto Investors Can Achieve Superior Returns With Prediction Markets. Here's Why He's Right.
Speaking at TOKEN2049 in Singapore, Polymarket CEO Shayne Coplan suggested crypto investors could earn superior returns by trading prediction market event contracts instead of buying crypto on the spot market. The article describes the crypto market as driven by “irrational exuberance” and a “hot potato” game, where altcoins promising 100x returns often crash, with Bitcoin and Ethereum as notable exceptions. It argues prediction markets offer more “predictable” returns, citing a hypothetical example of Bitcoin contracts accumulated when BTC was $60,000 that would be profitable with Bitcoin near $85,000, and noting such contracts can also profit in falling markets. The author says prediction market contracts shouldn’t make up an entire portfolio because that would be too risky, but could boost a long-term buy-and-hold portfolio.
- Polymarket reports outage on international exchange, halts trading
Prediction market Polymarket said its international platform is experiencing an outage after a hack of an unnamed third-party provider, and it halted trading there. Traders reported unauthorized withdrawals from their accounts on Thursday afternoon; the company said it fixed the issue on its end and trading will resume at 3:00 p.m. ET. Polymarket said it will make whole any affected wallets and has referred the matter to U.K. law enforcement, since the provider operates in the U.K., while its domestic U.S. exchange ran normally. The international exchange runs as a decentralized finance platform on the Polygon blockchain and is not regulated in the U.S., and the disruption comes just days before the U.S. midterm elections on Nov. 3, when volumes are expected to rise.
Related markets
Latest news
- Amazon's mixed Q3 earnings raises some questions
Amazon's AWS grew 39% in the third quarter, slightly above the roughly 38% consensus, but the speaker said the beat was not large enough after stronger cloud acceleration reported by Microsoft and Google. Overall revenue missed estimates, mainly due to retail, which includes advertising. Amazon kept its full-year CapX outlook at $220 billion, while third-quarter capex came in well above estimates, implying a sizable step-down in the fourth quarter. The speaker sees the capex cycle rising but very lumpy, with some quarters potentially reaching $80 billion and others around $40 billion.
- After Another Strong Quarter, XPO Sees More Room for Margin Improvements
XPO, a less-than-truckload (LTL) carrier, posted another strong quarter, with North American revenue growing in double digits excluding fuel and margins improving. Total revenue rose 12.4% to $2.37 billion, slightly below the $2.38 billion estimate, while adjusted EBITDA climbed 26.6% to $433 million and adjusted EPS jumped 59% to $1.70, above the $1.57 consensus. Adjusted operating ratio improved 260 basis points to 80.1%. Tonnage per day rose 5%, which Chief Strategy Officer Ali Faghri attributed to market share gains and a rebound in industrial demand, while pricing rose in the mid-single digits. Faghri said XPO is on track to meet its 2021-2027 goals a year early and could bring the adjusted operating ratio to the low 70s if demand keeps growing.
- Could $1,000 Invested in Palantir Turn Into $100,000?
Palantir went public via a direct listing on Sept. 30, 2020, and a $1,000 investment at its earliest trading price of $10 would be worth about $19,400 today. Revenue grew at a 31% CAGR from 2021 to 2025, and the company turned profitable in 2023 before EPS grew at a 165% CAGR over the following two years. Analysts expect revenue and EPS to grow at CAGRs of 59% and 70% from 2025 to 2028, yet the stock trades at 91 times next year's earnings. The article's scenario assumes EPS grows 30% a year for 13 years after 2028 and the stock trades at 50 times forward earnings in 2040, implying a price of $4,710, which would turn $19,400 into about $471,400. The author cautions that these rosy estimates should be taken with a grain of salt.
- Coinbase Swings to $719 Million Q3 Profit on Crypto Gains
Coinbase posted third-quarter net income of $719 million, or $2.51 per diluted share, against analysts' expected loss of 15 cents per share, according to Zacks. About $715 million of that profit came from gains on crypto the company holds as an investment, and adjusted net income was $78 million. Revenue of $1.22 billion was in line with expectations, flat from the prior quarter and down 35% year over year, while transaction revenue slipped 1% to $590 million but beat about $527 million expected. Prediction markets surpassed $200 million in annualized revenue, and adjusted EBITDA rose 60% from the prior quarter to $333 million, while Coinbase cut its 2026 adjusted expense guidance by $100 million at the midpoint to $4.15–4.3 billion.
- Breaking Down Amazon's Third-Quarter Earnings
Amazon spent more than $77 billion on property and equipment in the third quarter, well above analyst estimates, and still expects full-year cash capex of $220 billion. AWS growth of 39% matched consensus, and the company's expected growth of 40% over the next two years was seen as impressive. Retail was soft as the Prime Day shift from Q2 to Q3 cut about 400 basis points from top-line growth, while North American operating margin rose to 7.7% versus an expected 6%. Commentators attributed the margin gain largely to advertising, which they see as still in its early innings, though generative AI shopping could change where ads are placed.
- AWS Jumps 39% as Amazon's Cash Flow Sinks: Rapid Earnings Reaction
Amazon's AWS revenue grew 39% in the third quarter, its fastest pace in nearly five years, and the unit posted its highest operating margin ever, yet shares fell about 6% in early after-hours trading. Net sales rose 12% to $201.9 billion and operating income climbed to $28.1 billion from $17.4 billion, with AWS earning about 63% of operating profit. Trailing 12-month free cash flow turned to an outflow of $42.4 billion from a $14.8 billion inflow a year earlier, as long-term debt nearly tripled since December to about $173 billion. Amazon kept its plan to spend about $220 billion on capital projects this year, and advertising growth of 12% is expected to reach the high teens in the fourth quarter.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.