A small cluster of crypto wallets earned more than $1.2 million betting on a Polymarket contract linked to an onchain investigation into DeFi trading platform Axiom, raising fresh concerns about insider activity on prediction markets.
Data compiled on Dune shows the eight most profitable wallets collectively made about $1.2 million on the market. In contrast, more than 50 wallets recorded combined losses of roughly $1.23 million, while two addresses alone lost around $366,000.
一共有超过 3,630 个 Polymarket 地址在 ZachXBT 内幕调查事件中押注“Axiom”，其中 56.2% 的地址获得正向盈利
– Top10 大额获利地址中有 8 个均可被视为是内幕地址，合计盈利超过 120 万美元，基本特点是交易的市场次数极少甚至只有唯一一个
– 有 3 个地址获得超过 10… pic.twitter.com/mOJ4jEKoS4
— defioasis.eth (@defioasis) February 27, 2026
Onchain patterns point to possible insiders
Onchain researcher Defioasis said eight of the top 10 wallets appear to be insider addresses based on transaction behaviour. According to the researcher, three wallets made profits exceeding $100,000 each and traded only in this single market.
“There are 3 addresses that achieved profits exceeding $100,000, all of which are insider addresses that traded only this single market,”
said the researcher in a Friday X post.
The contract centred on a much-anticipated investigation published by blockchain sleuth ZachXBT. The report alleged that Axiom employee Broox Bauer and others engaged in insider trading activity dating back to early 2025.
Following the disclosure, Axiom said it was “shocked and disappointed” by the findings and confirmed it had removed access to the internal tools allegedly used in the activity.
Prediction markets under renewed scrutiny
The episode adds to mounting scrutiny around insider trading risks on prediction markets. In early January, a Polymarket user reportedly profited about $400,000 after placing a bet on the removal of Venezuelan President Nicolás Maduro shortly before US forces captured him.
Tarek Mansour, the Chief Executive Officer of Kalshi, has thrown his support behind a new legislative proposal aimed at banning government officials from participating in prediction market trade.
Meanwhile, Polymarket continues to face regulatory pressure in multiple jurisdictions. Hungary, Portugal and Ukraine have blocked access to the platform over gambling concerns, joining France, Belgium, Poland, Singapore and Switzerland in restricting or limiting its operations.
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