Polymarket Whale Set to Make $47 Million from Trump Win
Théo, a French trader on Polymarket, is set to make at least $47 million from his Trump win, making a big splash in the political betting market.
On November 6, 2024, all social media platforms are flooded with keywords related to the meaning of "victory", as early vote counting results and the announcement from the largest US news agency, the Associated Press (AP), declared that Donald Trump had won the 2024 US Presidential election.
In sync with the victory of the crypto-friendly President, excitement flooded the cryptocurrency market as Bitcoin surged from around $69,000 to over $70k, $71k,... then broke the $75k mark to officially set a new ATH around $75,400 at around 11am (Vietnam time). At the same time, the money flow from Bitcoin also shifted to Altcoin, pushing the price of "everything" skyrocketing.
However, Mr. Donald Trump was not the only one who won on November 6.
Théo (whose full name has not been disclosed), a French trader who bet big on Trump winning a second term on the Polymarket prediction market, is preparing to "pocket" at least $47 million from his bold bet.
Specifically, Théo is the investor believed to be behind 4 accounts (Theo4, Fredi9999, PrincessCaro, Michie) on Polymarket, who have continuously bet on Mr. Trump's ability to win the "White House seat" since August with a total initial capital of nearly $30 million.
Explaining the reason for creating up to 4 accounts, Théo shared with the Wall Street Journal in a previous interview that it was because "it was no longer possible to buy at the same price", forcing him to create 3 more accounts to hide the order. In addition to betting that Mr. Trump would receive the majority of the Electoral College votes, Théo also participated in betting that Mr. Trump would win the majority of the Popular Vote.
Notably, not only trader Théo was "alone" in the process of placing his trust and huge assets on Mr. Donald Trump's "White House" victory, but many other personal accounts also bet tens of millions of dollars on the Republican candidate, including:
Account "zxgngl" with an estimated profit of 11.4 million USD from the initial investment of more than 15 million USD.
"GCottrell93" is likely to pocket a total of $13.28 million with an expected profit of $4 million.
"walletmobile" made a profit of $6.1 million with an initial capital of nearly $10 million.
The appearance of a series of personal accounts betting huge amounts of money on Mr. Trump winning the 2024 US presidential election has sparked conspiracy theories that there is a deliberate use of money to influence the prediction odds on Polymarket, making the results increasingly skewed towards Mr. Trump.
However, this hypothesis has been rejected by Polymarket's legal team, who stated that they did not find any problems. The prediction market confirmed that it had contacted the above accounts to investigate their background information and the results showed that "these users were establishing betting positions based on their personal views on the election results."
With a total estimated profit of up to 47.3 million USD from an initial capital of nearly 30 million USD, Théo's bold "bet" may be recorded in the history of political betting, becoming one of the "legendary bets".
However, the joy of victory of one person is the "tears" of another. While Théo, "zxgngl", "GCottrell93"... are busy thinking about choosing to change their car, new house from their bet, the account "leier" has to consider starting a business from scratch when the 5 million USD bet on Ms. Kamala Harris winning the US presidential election is about to "disappear".
