P2P.me team discloses and apologizes for prediction market bets
28.03.2026
14430
The P2P.me team opened positions on the Polymarket prediction platform to wager whether the project would hit its $6 million fundraising goal.
P2P.me team discloses and apologizes for prediction market bets
The team behind the P2P.me decentralized trading platform just dropped a bombshell: they admitted to opening positions on Polymarket about their own funding round. They were literally betting on whether they'd hit their $6 million fundraising target. Talk about putting your money where your mouth is.
Here's the timeline: 10 days before the raise went live, the team opened positions on Polymarket. At that point, they only had one "oral commitment" from Multicoin Capital for $3 million—no signed term sheets, no guaranteed allocations. Just vibes and a prediction market bet.
The plot twist? The project only raised $5.2 million, so the market resolved to "no." The team's Polymarket account shows an all-time profit of over $23,480. They named the account "P2P Team" deliberately—apparently as a "marketing signal." Bold move.
Trading on an outcome you can influence erodes trust. We don't believe we were trading on a done deal, but we recognize reasonable people can see it differently. We named the account 'P2P Team' deliberately to give a marketing signal of our presence. But intent isn't the same as action. Not disclosing at the time was a mistake we own.
Damage control mode activated: The team says any profits from these bets will go back into the project's MetaDAO treasury. They're liquidating all open positions on Polymarket and adopting a "formal company policy" on prediction market trading. Basically: we messed up, we're sorry, and we're putting guardrails in place.
Cointelegraph reached out to P2P.me but got radio silence by publication time. Classic.
US lawmakers take steps to curb insider trading activity on prediction markets
This whole situation drops as prediction markets are under serious heat from US lawmakers. Platforms like Polymarket and Kalshi are already rolling out countermeasures to curb insider trading—and now Congress is getting involved.
Lawmakers Adrian Smith and Nikki Budzinski just introduced the "Preventing Real-time Exploitation and Deceptive Insider Congressional Trading Act" (PREDICT Act) to ban the US president and lawmakers from prediction markets. Because apparently, politicians betting on election outcomes is a bad look.
There's even a competing bill introduced the next day aiming to curb political insider trading on prediction markets. The feds are clearly watching this space—and they're not happy about the potential for abuse.
- • P2P.me team opened Polymarket positions 10 days before their funding round
- • Only had $3M oral commitment from Multicoin Capital at the time
- • Raised $5.2M instead of $6M target—market resolved to "no"
- • Team's Polymarket account shows $23,480+ all-time profit
- • Profits going to MetaDAO treasury, adopting formal trading policy
- • US lawmakers introducing bills to ban politicians from prediction markets
- • Prediction markets under increased scrutiny for insider trading
#legislation#Apologies in crypto industry#insider trading#Crypto Scandals#prediction markets
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