According to the source, a Columbia University study estimates that up to 60% of Polymarket’s trading volume may be wash trading, indicating substantial artificial activity in prediction markets, the study reports. Based on the study’s estimate, traders should discount headline volume when sizing orders and managing slippage on Polymarket to avoid overestimating real liquidity, as inferred from the study’s findings. For users transacting via Polygon (MATIC) and USDC on Polymarket, the study’s reported wash-trade share suggests tighter risk controls on order execution and spread assumptions, according to the study.