The Decentralized Illusion: Bloomberg Reveals Just 9 Crypto Wallets Control Billions in Polymarket’s Contested War and Election Bets
The promise of Web3 has always been radical decentralization. We are told that blockchain technology replaces biased, centralized gatekeepers with the unbiased "wisdom of the crowd." Nowhere has this narrative been more powerful than on Polymarket—the world's largest decentralized prediction market. Throughout global elections, geopolitical flare-ups, and macroeconomic shifts, Polymarket has been hailed as a pristine, real-time indicator of truth, processing billions of dollars in wagers.