The P2P.me team disclosed that it opened positions on the Polymarket prediction market related to its recent capital raise. The bets were placed 10 days before the fundraiser went live, wagering whether the project would hit its $6 million target.
At the time, P2P.me had only one oral commitment from Multicoin Capital for $3 million, with no signed term sheets or guaranteed allocations. The project ultimately raised $5.2 million, resulting in the market resolving to 'no.'
The team apologized for not disclosing the trades and said any profits will be returned to the MetaDAO treasury. They also announced they are liquidating all open positions and implementing a formal policy on prediction market activity.
US lawmakers are pushing to ban politicians and the president from prediction markets due to concerns over insider trading.
