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Bloomberg: Polymarket's volume has been significantly inflated due to "wash trading".
On November 7, according to a report by Bloomberg, a recent study by researchers at Columbia University pointed out that the trading activity volume of Polymarket, one of the most popular prediction markets, is significantly exaggerated by so-called “wash trading”—the behavior of users frequently buying and selling the same contracts within a short period of time. The study's conclusion shows that this phenomenon, referred to by researchers as “artificial trading,” varies over time but has averaged about 25% of Polymarket's total trading volume over the past three years.