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'Hairdryer used to trick weather sensor' to win Polymarket bet

telegraph.co.uk

1–10 of 270 posts

Re: 'Hairdryer used to trick weather sensor' to win Polymarket bet

#5
John Oliver had a segment on prediction markets this week. It covers insider training and opportunities for blatant manipulation like this, well worth checking out. The example in the Last Week Tonight segment was betting on dildos being thrown on court during a WNBA match. And then travelling to the match to throw the dildo.

[0] https://www.youtube.com/watch?v=ZN4njIQcSR4

Re: 'Hairdryer used to trick weather sensor' to win Polymarket bet

#6
post #2

I don't understand who is taking the other side of all these insane Polymarket bets. Is Polymarket doing it?

There's quite a lot of ways to interpret this question... but for that day's daily bet:

>A temperature of 18C was seen as a 99.6pc probability before the temperature spiked later in the day.

99.6% of them didn't take the insane bet. And at least one of those 0.4% (by value? count? idk) decided to cheat.

Re: 'Hairdryer used to trick weather sensor' to win Polymarket bet

#8
post #2

I don't understand who is taking the other side of all these insane Polymarket bets. Is Polymarket doing it?

If polymarket were staking wagers on its own platform, then it would have to worry about the integrity of the contracts, which is a nonstarter

Re: 'Hairdryer used to trick weather sensor' to win Polymarket bet

#9
> There are no indications so far that the successful punters have had to return their winnings. However, the data source for Paris’s hottest temperature has since moved to a sensor at the smaller Paris-Le Bourget airport.

Here's the negative externality that no one will care about. There's no reason gamblers won't repeat this stunt, until us poor schmucks who just want an accurate temperature reading have to build a fortified compound in order to do so.

Re: 'Hairdryer used to trick weather sensor' to win Polymarket bet

#10
post #2

I don't understand who is taking the other side of all these insane Polymarket bets. Is Polymarket doing it?

I don’t understand why these bets are allowed at all. Can one just make an account there and bet in anything?

The whole “prediction market” charade is increasingly proving to lend itself to abuse. I hope regulations catch up with it soon, otherwise more shenanigans will follow.

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