The prediction market is deploying AI-powered surveillance tools as the industry faces mounting scrutiny over insider trading and market manipulation.
Prediction market Polymarket has partnered with Palantir Technologies and TWG AI to develop a surveillance system designed to detect manipulation and insider trading across its sports markets.
The new platform will be powered by the Vergence AI engine, a joint venture between Palantir and TWG AI created last year. It will monitor trading activity in real time, flag anomalous patterns, screen users against existing banned-bettor lists, and generate compliance reports that can be shared with regulators and sports leagues.
“Our partnership with Palantir and TWG AI allows us to apply world-class analytics and monitoring to sports markets while building tools that can help leagues and teams maintain confidence in the games themselves,” said Polymarket founder and CEO Shayne Coplan in a press release.
Palantir CEO Alex Karp called the collaboration a new standard for prediction markets, adding that the companies are working to ensure the platform can scale as the sector expands.
The partnership comes as interest in sports betting on prediction markets continues to rise.
Meanwhile, Polymarket trading volumes hit an all-time high of $3.55 billion in February, marking a sixth straight month of growth, according to DeFiLlama.
Source: https://thedefiant.io/news/defi/polymarket-teams-up-with-palantir-and-twg-ai-to-monitor-sports-bets
