Recent findings indicate that the trading activity and volume reported by Polymarket, a prediction market platform, may be overstated due to a data error. Storm, a researcher at Paradigm, revealed that many dashboards have been mistakenly double-counting Polymarket's volume unrelated to wash trading. This issue arises because Polymarket's on-chain data redundantly represents trades, leading to multiple 'OrderFilled' events for the same transaction. Consequently, these events are often aggregated incorrectly, inflating the reported volume metrics. Despite being viewed as a success in the crypto space, this revelation could undermine Polymarket's perceived achievements. The researcher noted that the bug affects both notional and cashflow volume metrics. With the Intercontinental Exchange recently valuing Polymarket at $9 billion based on a reported $25 billion trading volume, the accuracy of these figures is now in doubt. As prediction markets evolve, the industry must establish consistent and transparent reporting standards to ensure reliability. Read more AI-generated news on: https://app.chaingpt.org/news

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