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Polymarket bettor set for $29M win after Trump leads

Polymarket bettor set for $29M win after Trump leads

Grafa2024/11/07 07:37
By: Isaac Francis
XOLDTOKEN0.00%ARKM+0.55%

With Donald Trump close to securing victory in the U.S. presidential election, Polymarket has seen high-stakes betting activity.

An anonymous bettor using the account “zxgngl” stands to earn $29 million from an $18 million wager on Trump winning the Electoral College, according to data from Arkham Intelligence.

This potential windfall translates to an $11 million profit.

The account, created in October, made significant investments, including a single $5 million bet on Monday.

Another bettor, identified as “walletmobile,” has staked $10 million on the same outcome and could earn $16 million if Trump’s win is confirmed.

Arkham Intelligence revealed that this account, set up in September, only began making substantial bets on the day of the election.

These are just two of the large-scale bets placed on Polymarket.

The Wall Street Journal noted that a French bettor known as “Theo” had invested over $30 million across four accounts, all in favor of Trump.

Meanwhile, an account named “leier” placed $5 million on Kamala Harris winning, which would yield $11 million if successful.

Polymarket’s odds heavily favored Trump at the time of writing, indicating a 95% probability of his victory.

“Trump is about to give his victory speech. His odds have been >95% on Polymarket for hours, yet the mainstream media is still stringing you along for ‘critical calls’ and ‘paths to victory,’” the platform’s X account stated.

Trump’s potential win carries significant implications for the crypto market.

He pledged to remove SEC Chairman Gary Gensler, known for his stringent regulatory approach, and suggested replacing taxes on cryptocurrencies with a tariff system.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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