The trade has has resumed on Polymarket’s flagship international platform after a hack that drained money from some traders’ wallets.
It was a UK-based third-party provider that was hacked, not the prediction market website itself. Law enforcement agencies in the United Kingdom have been informed of the incident, the company said. Trading was initially halted while the company investigated for several hours.
On X, prominent traders complained of losing money; Blockchain analytics firm Bubblemaps reported that around 700 users appear to be affected, and that around $2.7 million was stolen. Polymarket declined to comment when WIRED asked how many traders were affected by the breach and how much money was lost, but said it would reimburse affected traders.
The hack did not impact users of Polymarket US, the company’s new platform aimed at people living in the United States. Polymarket operates two separate prediction markets; Polymarket US operates as a federally regulated financial exchange in the country, while the flagship Polymarket is a cryptocurrency-based platform that is banned in the United States and a number of other countries.
This is not the first time Polymarket merchants have faced security issues. In June 2026, Polymarket experienced another breach, which resulted in losses of over $2 million for affected traders.
The company has been the subject of controversy since its launch in 2020. In recent years, it has been at the center of several high-profile alleged insider trading incidents resulting in arrests. One case involved a special forces soldier accused of betting on the capture of Venezuela’s former leader; another involved a Google employee who allegedly used confidential information to make millions. In both cases, the suspects pleaded not guilty.
Polymarket recently raised $1 billion in August 2026, thanks to a fundraising led by 1789 Capital, the venture capital firm in which Donald Trump Jr. is a partner. Its value is now estimated at $21 billion.
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