Meteora Tops Prediction Market Odds Amid Insider Trading Speculation

The recent hype surrounding an upcoming investigation has sent trading volumes soaring on prediction market Polymarket. ZachXBT's teaser about a Feb. 26 report may have unintentionally leaked privileged information, contributing to the frenzy. The viral clip accumulated over 8 million views and 27,000 likes, with many users flocking to Polymarket to bet on which crypto platform will be named.

According to Polymarket data, Meteora remains the top contender at 47%, followed closely by Axiom. This surge in trading activity has pushed the market's social-media mindshare to new heights, with a significant increase in volume from $5 million to over $14 million.

The speculation surrounding Meteora's potential involvement has already begun to affect its price action. The token recovered to $0.17 after dipping to recent lows, despite the report indicating little data pointing to lasting headwinds for the platform. However, insider trading concerns remain minimal, with only one whale shorting MET via Hyperliquid and another early whale closing their position.

The crowd of traders is largely composed of smaller investors, tracking suspected insiders' moves and boosting volume in the process. While outsized positions are scarce, insiders could still reap significant gains if their shares resolve at 100%. Until the Feb. 26 report drops, multiple platforms remain plausible, keeping speculation alive.