On Tuesday, newly created accounts on the prediction market Polymarket made well-timed bets on a potential ceasefire between the United States and Iran, resulting in substantial profits. Despite heightened tensions and Donald Trump's alarming warnings about potential consequences if Iran did not comply with demands regarding the Strait of Hormuz, these accounts placed significant bets just hours before the ceasefire was publicly announced. One account, which was created on the same day, placed about $72,000 in bets at an average price of 8.8¢ and later cashed out for a profit of approximately $200,000. Another account earned $125,500, while a third made a profit of $48,500 from a $31,908 bet made just before the announcement. However, the contract for the ceasefire has been marked as 'disputed' by Polymarket, as tensions in the region persist. This pattern of strategic betting has raised concerns among lawmakers about potential insider trading, prompting discussions on the need for regulation in prediction markets. Experts argue that without oversight, these markets could be exploited by individuals with access to inside information.