Prediction market giant Polymarket has stepped up surveillance and compliance controls following a high-profile insider trading scandal. The prediction market operator is collaborating with Chainalysis to tighten oversight following the $410,000 insider bet on the capture of Venezuelan President Nicolás Maduro.

According to Polymarket, it will work with Chainalysis to create a more reliable and transparent betting environment and, hopefully, set the gold standard for market oversight.

It also stated that they will collaborate to introduce new monitoring and detection tools and reinforce on-chain security to prevent threats. Chainalysis will also help train Polymarket’s team, build new detection capabilities, and support complex…