A French “whale” who bet $30 million on President Trump’s victory through Polymarket collected $48 million in profits on that bet, according to the crypto-based betting platform.
The anonymous bettor, known as Theo, controls four separate accounts on the platform, each betting on Trump's victory in the Electoral College and popular vote and giving some money to Republican candidates in battleground states. I was betting.
On Wednesday morning, predictions claimed former President Donald Trump would defeat Vice President Kamala Harris to become the 47th President of the United States, pushing Mr Teo and his huge profits to the top of Polymarket's all-time prize money list. Ta.
The Theo4 Polymarket account has made about $22 million in profits, while the trader's other three accounts (Fredi9999, PrincessCaro, and Michie) have made a total of $26 million in profits.
While the media has questioned the motives of French traders for spending so much money on Trump, Teo said Polymarket's move was simply a good bet.
“My purpose is just to make money,” he told the Wall Street Journal during a Zoom call last week.
“I have no political intentions whatsoever,” the trader wrote in a follow-up email to the newspaper.
On the eve of the election, a trader's risky bet paid off in a big way, as polls continued to predict a close race and a mysterious figure had an unrealized loss of about $3 million.
As of Wednesday afternoon, former President Donald Trump appeared to have clinched the White House with overwhelming “red wave” victories in several battleground states, according to the Associated Press.
Polymarket, like other new and popular election betting platforms like Kalshi, is currently trying to position itself as a more accurate race prediction tool.
“Last night, Polymarket proved the wisdom of the market beyond polls, media and experts,” the company said in a statement on X. “Polymarket consistently and accurately predicted outcomes well ahead of all three companies, demonstrating the power of high-volume production.” A highly liquid prediction market like the one pioneered by Polymarket. ”
On the morning before Election Day, the betting site announced that Mr. Trump had a 58.6% chance of winning the presidency, and Ms. Harris had a 41.4% chance, according to the Polymarket site.
Meanwhile, the last NBC News pre-election poll released Sunday showed each candidate tied, with support from 49% of registered voters.
