U.S. authorities are investigating a KPMG employee for suspected insider trading on the crypto prediction platform Polymarket. Investigators identified a cluster of 19 interconnected accounts. This group achieved a 98% success rate on the platform. The accounts won 41 out of 42 bets regarding the earnings results of KPMG-audited companies.
The suspicious wagers targeted companies including Wells Fargo, Home Depot, DoorDash, and General Mills. These trades generated approximately $22,000 in total profits. Analysis of fund transfers between the accounts suggests a single operator manages the cluster.
A direct link between the employee and the accounts remains unconfirmed. KPMG maintains a zero-tolerance policy for trading on nonpublic client information. The firm has since enhanced its internal monitoring protocols.