Polymarket, a prediction platform that uses cryptocurrency for betting, recently investigated and revealed the whale that spent $45 million in support of Donald Trump, although the trader is a French national.
According to a Bloomberg report, Polymarket revealed that the person owned four major accounts. Furthermore, the company spokesperson stated on Thursday that the person behind these accounts had “extensive trading experience and a financial services background.”
The biggest of these four accounts is the one that goes by the username of Freddi9999. This account has spent dollars spanning millions in the markets which are in favor of victory for the Republican candidate on November 5.
Internet sleuths are concerned that the accounts belong to a single person
However, online investigators have had their concerns that these accounts may belong to a single person who intends to skew Trump’s odds.
Regarding this, the spokesperson mentioned, “Based on the investigation, we understand that this individual is taking a directional position based on personal views of the election.”
Furthermore, the spokesperson clarified that the current investigation does not show any signs of market manipulation or any similar attempts. Also, the user agrees not to open additional accounts without notice.
Polymarket ensured that the user is not from the US
Since Polymarket does not permit users from the US, Polymarket has conducted fresh checks to make sure that the accounts making wagers are not from the US. This particularly applied to those who made significantly large wagers.
The New York Times was the first to report the trader’s background and nationality. There has been a lot of speculation about the outcome of the US presidential election. As it turns out, betting on this outcome is also the most popular offering on Polymarket right now with over $2.4 billion in trading volume.
As of thursday, the probability of Trump winning ranked at about 61.5% on Polymarket. In comparison, his odds were lesser on other rival sites.
