Matt Levine’s Money Stuff: Polymarket Has Some Fake Traders

Fake Polymarket traders

In traditional finance, there are stock exchanges and there are brokerages. Stocks are bought and sold on the stock exchange, but you can’t just walk in and buy some stock. Only certain selected professionals can trade stocks on the stock exchange. If you want to trade stocks, you have to open an account with a brokerage; your broker will buy the stock for you on the stock exchange. You can’t just open an account on the stock exchange and buy stock. The stock exchange doesn’t have accounts for retail investors.

This is more or less a matter ...