NegRisk Market Rebalancing: How $29M Was Extracted From Multi-Condition Prediction Markets

Nov 03, 2025

∙ Paid

Research period: April 2024–April 2025
Total arbitrage documented: $39.59M
NegRisk rebalancing: $29M (73%)
Single-condition: $10.58M (27%)

IMDEA Networks analyzed 86 million Polymarket bets, documenting systematic arbitrage extraction across 17,218 market conditions.[1] Market rebalancing within multi-condition NegRisk markets generated 73% of total profits…

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