Episode Details

This story was originally published on HackerNoon at: https://hackernoon.com/5-growing-pains-prediction-markets-powered-through-in-their-biggest-year-yet.
Wash trading, oracle governance, insider-trading busts, and a jurisdiction fight: how Polymarket, Kalshi, and UMA handled five real stress tests in 2025-2026.
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A small share of wallets drive most volume and profit on these platforms, normal for any liquid, professionally traded market, not a sign anything is broken.