Polymarket Users Favor Meteora in Bets over ZachXBT Crypto Takedown

The crypto prediction market is going wild over ZachXBT's next big exposé. Polymarket users have thrown down over $7 MILLION betting on which crypto platform the legendary sleuth will call out for insider trading this Thursday.

As of Tuesday, Meteora — a decentralized liquidity platform — is leading the pack with 29% odds. The betting pool includes MEXC, Axiom, Wintermute, and others. ZachXBT teased this as a "major investigation" into "one of crypto's most profitable businesses," alleging multiple employees "abused internal data to insider trade over a prolonged period of time."

Here's the kicker: Polymarket odds are purely based on user speculation, not insider info. It's the crowd's best guess at who's about to get wrecked by crypto's most feared investigator.

While users bet on crypto drama, prediction markets themselves are in a legal battle. CFTC chair Michael Selig just dropped the hammer, declaring the federal regulator has "exclusive jurisdiction" over prediction markets — treating them like derivatives markets.

Selig warned state-level authorities challenging the CFTC: "We'll see you in court." The agency has already filed amicus briefs asserting its authority. Polymarket is fighting Massachusetts over enforcement actions, arguing the CFTC should be the sole regulator.

Platforms like Polymarket and Kalshi face lawsuits in multiple states over allegations of offering illegal sports gambling. This regulatory clash could determine who controls the future of prediction markets in the US.