• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Cryptocurrency
Air France planes are seen arriving into Charles de Gaulle airport Alexi Rosenfeld/Getty Images

Polymarket just paid out $21,398 on a $119 weather bet — after a Paris airport sensor spiked 6°C in seconds. France suspects foul play

The odds of the temperature exceeding 22 degrees Celsius at Charles de Gaulle airport in Paris on April 6 were less than 1%, Polymarket said. It gave the same odds on April 15. But one individual seemingly found a way to rig the system and walked away $34,000 richer.

Law enforcement authorities in France are investigating if the weather monitoring device at the airport (the world's seventh busiest for international passengers (1) was tampered with after it recorded a very brief, dramatic spike of six degrees (2) in seconds on the days of the winning bets from an anonymous trader who went by the username "xX25Xx". The investigation is still ongoing, but the leading theories are that the culprit used either a battery-powered hair dryer or a lighter to briefly spike the temperatures.

Advertisement

The user deleted his account after the second win, where they racked up $21,398 in profits on a $119 bet. There is no indication that Polymarket forced them to return their winnings (3).

The dangers of messing with weather equipment

While the online world is having a good laugh at someone creatively cheating on the wager, officials are taking the incident seriously.

Météo-France, the country's national meteorological service, filed the complaint with police. Air temperature is one of the pieces of data used to determine things like the proper takeoff distance for planes as well as their climb rate. Spikes can throw off those calculations, which can impact and potentially endanger planes and passengers.

Polymarket is still hosting meteorological bets for Paris, but the site no longer uses temperature readings at Charles de Gaulle as the authoritative number. Following Météo-France's complaint, the platform began using readings from Paris-Le Bourget, a smaller airport in the Paris region.

Must Read

Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.

A pattern of scandal

xX25Xx's big win was hardly the first by suspicious circumstances on a prediction market. On Thursday, the Justice Department announced (4) a U.S. soldier named Gannon Ken Van Dyke had been arrested and charged for placing bets on Polymarket using classified information he had access to regarding the capture of former Venezuelan president Nicolás Maduro.

"Prediction markets are not a haven for using misappropriated confidential or classified information for personal gain," said U.S. Attorney Jay Clayton (5).

Van Dyke allegedly bet just over $33,000 on the markets before the military action, winning nearly $410,000, officials say. He's charged with three counts of violating the Commodity Exchange Act, each of which carries a maximum sentence of 10 years in prison; one count of wire fraud, which carries a maximum sentence of 20 years in prison; and one count of an unlawful monetary transaction, which carries a maximum sentence of 10 years in prison.

Critics have long pointed to the potential for scandal on prediction markets like Polymarket and Kalshi, noting some participants use insider information when placing bets, the anonymity of accounts and a general lack of oversight.

The lack of enforcement over questionable trades, though, might be temporary, says King & Spalding. Should Democrats take the White House in 2028, that could mean trouble for people who have played fast and loose with the rules.

"Even if the Trump administration does not end up aggressively policing insider betting on prediction markets, the statutes of limitations for some [potentially illegal bets] may be long enough to stretch into the next administration," the law firm wrote (6) in an essay. "With many laws on the books and the potential for live claims under a future administration, companies should consider revisiting their policies and procedures that address insider trading to take into account prediction markets and new and emerging trading/betting platforms."

Article Sources

We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.

ACI World (1); The New York Times (2); NPR (3); U.S. Department of Justice (4),(5); King & Spalding (6)

You May Also Like

Share this:
Chris Morris Contributor

Chris Morris is a veteran journalist with more than 35 years of experience, the majority of which were spent with some of the Internet’s biggest sites, including CNNMoney.com, where he was director of content development, and Yahoo! Finance, where he was managing editor. His work has also appeared on Fortune, Fast Company, Inc., CNBC.com, AARP, Nasdaq.com, and Voice of America, as well as dozens of other national publications.

more from Chris Morris

Explore the latest

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither investment, tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, enter into any loan, mortgage or insurance agreements or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.

†Terms and Conditions apply.