Polymarket Refuses Payouts On US 'Invade Venezuela' Bet - Crypto Economy

Polymarket is refusing to pay out users who bet the US would “invade” Venezuela, the New York Post reported on Jan. 7, after a US military operation captured Venezuelan leader Nicolás Maduro and his wife and flew them to New York.

Polymarket categorized the action as a “snatch-and-extract,” arguing an invasion would require US forces to establish control over Venezuelan territory. That definition is now the flashpoint, with bettors calling the ruling arbitrary. The Post also tied the dispute to separate insider-trading suspicions after traders reportedly made about $620,000 on a Maduro removal wager.

Scrutiny is widening: the Post said Donald Trump Jr.’s firm invested in Polymarket shortly before US regulatory approval, and Rep. Ritchie Torres floated legislation to bar government officials from this type of trading. Next up is whether Polymarket issues a clarification or settlement update as it still showed a 4% chance of a US invasion by end of January.

Source: New York Post.

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