GAMBLING

Polymarket Users Betting on Mangioni Arrest

Posted on: December 10, 2024, 12:54h. 

Last updated on: December 10, 2024, 01:10h.

Tuesday’s news on the fast-moving Manhattan shooting investigation front reported that suspect Luigi Mangione was found with “written admissions” about the shooting, according to Forbes reporting.

Polymarket is taking bets on Luigi Mangioni, arrested in the murder of UnitedHealthcare CEO Brian Thompson. Image/Getty

Manifesto

The early morning assassination of UnitedHealthcare CEO Brian Thompson on the streets of Manhattan last week, the ensuing widespread search for the shooter, then Monday’s arrest of Mangione at a McDonald’s in Pennsylvania, followed by the formal charging of the 26-year-old for the murder, has swept up the country.

The New York Times noted via an obtained internal NYPD report that a manifesto was found on Mangione when he was arrested at the restaurant. The document reportedly showed that Mangione “appeared to view the targeted killing of the company’s highest-ranking representative as a symbolic takedown and a direct challenge to its alleged corruption and ‘power games,’ asserting in his note he is the ‘first to face it with such brutal honesty.’”

Polymarket Betting Odds

Now, the prediction website Polymarket is getting in on the action as site users can start wagering on Mangione in categories like:

  • “Will Luigi Mangione plead guilty?” ($13K in volume, with Polymarket betting odds saying there’s a 68% chance he will)
  • “Luigi Mangione manifesto released by Friday?” ($58K in volume, with Polymarket betting odds saying there’s a 24% chance it will be)
  • “Is Luigi Mangione YouTube channel real?” ($83K in volume, with Polymarket betting odds saying there’s a 1% chance it is)
  • “What will Luigi Mangione say in his manifesto?” ($73K volume, 10% odds on “Unabomber” Ted Kaczynski)

Site Rocketed to Popularity During Election

Users on Polymarket, which launched in 2020, can bet on news events. The site jolted in popularity during the US national election in November, with betting volume running into the billions during that time. The platform correctly called Donald Trump’s election win.

The FBI raided the apartment of Polymarket CEO Shayne Coplan just after the election, seizing cellphones and electronic devices. Coplan wasn’t charged. Polymarket users operate via cryptocurrency, allowing for anonymity.

The Commodity Futures Trading Commission (CFTC) has investigated Polymarket in the past, concerned that events contracts or prediction markets are actually gambling. Polymarket says it doesn’t allow Americans to bet on the exchange and checks users to make sure they aren’t using VPNs, which hide a user’s location.


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