Suspected insider wallets rack up $1.2M betting on ZachXBT’s Axiom exposé

The top eight wallets on Polymarket netted over $1.2 million by betting on ZachXBT’s investigation into Axiom, raising insider trading concerns among blockchain researchers.

A small group of crypto wallets earned more than $1.2 million betting on a Polymarket contract tied to an onchain investigation into decentralized finance (DeFi) trading platform Axiom, fueling fresh concerns that prediction markets can reward people with advance knowledge of market-moving disclosures.

The eight most profitable wallets on the market collectively made about $1.2 million, according to trading data compiled on Dune. The same dataset shows more than 50 wallets posting combined losses of roughly $1.23 million, while two wallets lost about $366,000.

Eight out of the top 10 wallets are likely insider addresses due to their onchain transaction patterns, according to onchain researcher Defioasis. “There are 3 addresses that achieved profits exceeding $100,000, all of which are insider addresses that traded only this single market,” said the researcher in a Friday X post.

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