Polymarket Halted International Trading After Hackers Drained Accounts

Polymarket, a cryptocurrency-based prediction market, temporarily halted international trading following a hack that drained accounts, according to a recent report. The incident occurred after a third-party vendor in the United Kingdom was breached, not the prediction market's website itself. UK law enforcement has been informed of the incident.

Trading was paused for several hours while the company investigated the breach. Prominent traders on X complained about losing money, and Blockchain analytics firm Bubblemaps reported that approximately 700 users were affected, with around $2.7 million stolen. The company has not disclosed the exact number of traders impacted or the amount of money lost, but it has assured customers that it will refund impacted traders.

The hack did not affect users on Polymarket US, the company's newer platform for people within the United States. Polymarket operates two separate prediction markets; Polymarket US is a federally regulated financial exchange, while the flagship Polymarket is a cryptocurrency-based platform banned in several countries. This is not the first security breach for Polymarket.

In June 2026, the company experienced another breach resulting in over $2 million in losses for affected traders. Polymarket has been a subject of controversy since its launch in 2020, with several high-profile alleged insider trading incidents leading to arrests. Both suspects have pleaded not guilty. The company recently raised $1 billion in August 2026, led by venture capital firm 1789 Capital, where Donald Trump Jr. is a partner. Polymarket is now valued at $21 billion.