A new academic paper suggests there’s been a steady stream of “free money” lying around on Polymarket—and smart traders have been scooping it up. The paper, Unravelling the Probabilistic Forest: Arbitrage in Prediction Markets, is the most detailed look yet at how mispricing creeps into crypto’s most popular prediction platform. The researchers combed through a year of data, from April 2024 to April 2025, and found thousands of instances where market prices simply didn’t add up. In some cases, the prices ...