China is currently running a purge of its top military leaders amid an aggressive anti-corruption campaign by President Xi Jinping. Several Leaders of the People’s Liberation Army are being investigated.
China’s Anti-Corruption Purge
China’s Defense Ministry on Jan. 24 announced an investigation into Gen. Zhang Youxia, vice chairman of the Central Military Commission, and Liu Zhenli, the chief of staff of the commission’s joint staff department, according to a post by China Military.
The two leaders are being investigated for “suspected serious discipline and law violations.”
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Amid the latest investigation, China’s Central Military Commission now consists of two members, down from seven. Out of the two, one is Xi himself, along with Zhang Shengmin, the commission’s anti-graft officer, according to a Business Insider report.
Prediction Market Betting On Xi’s Ouster
Polymarket, a Polygon (CRYPTO: POL) based prediction platform that allows users to wager on an outcome using the USDC (CRYPTO: USDC) stablecoin, is currently betting on a contract “Xi Jinping out before 2027?”
Over $5.8 million has been bet on the contract so far.
According to the contract, there is an 8% probability of a “yes” and a 93% probability of a “no”.
If Xi is removed before 2027, those who bet on “yes” will win, and if Xi remains in power after 2027, those who bet on “no” will win.
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This article Will Xi Jinping Be Removed Before 2027 Amid Military Purge? Millions Of Dollars Bet On Prediction Markets Say This originally appeared on Benzinga.com