Report: Polymarket probes suspicious last-minute bets on Netanyahu election win

In Israel's latest election, Benjamin Netanyahu, who has been in power for over three decades, finds himself in a precarious position. While his Likud party remains the largest in the Knesset with 26 seats, they are short of the 61-seat majority needed to form a government. This leaves Netanyahu in a unique situation - he hasn't won, but he hasn't lost either.

To secure power, he must prevent his rivals from forming a government, a task that could take weeks or even months. The Arab parties, which hold roughly 67 seats, have the potential to form a coalition with Netanyahu's right-wing bloc, but this would require their support, which is not guaranteed. The Arab parties are divided ideologically, nationally, and personally, making their cooperation unlikely.

Netanyahu's main challenger, Gadi Eisenkot, secured 21 seats, but his right-wing allies, Naftali Bennett and Avigdor Liberman, have expressed opposition to any government that includes the Arab parties. Netanyahu's approach appears to be one of obstruction - he is reportedly planning to delegitimize any coalition that includes the Arab parties and may even pressure individual opposition lawmakers to reject cooperation.

This could lead to a period of instability in Israeli politics, with Netanyahu using domestic and external crises to prevent a new government from forming.