Big players on the blockchain-based prediction market Polymarket are set to pocket millions following Donald Trump’s win in the 2024 U.S. presidential election.
Among the top bettors, the account “Theo4” leads with a notable $20.4 million profit, according to blockchain analytics firm Lookonchain. Theo4 staked over $40 million on Trump’s victory, becoming one of the most high-profile names on the platform.
More Whales Win Big
Another large player, “Fredi9999,” earned $15.6 million by placing substantial bets on Trump, part of a group that collectively wagered over $28 million. Meanwhile, the third leading account, “zxgngl,” took home an $11 million profit, having bet around $30 million.
Polymarket has become a major player in political betting, with over $3.5 billion wagered on this year’s election, predominantly on Trump. The platform operates on the Polygon network and allows users to bet in cryptocurrency, using on-chain data and smart contracts for transparent trade execution and payout.
Some whales, however, saw losses by betting against Trump. For instance, the account “leier” reportedly lost nearly $5 million betting on Kamala Harris.
Bloomberg to Integrate Polymarket Odds
This August, Bloomberg LP announced plans to integrate Polymarket election odds into its Terminal, enhancing access to real-time predictive data. Polymarket’s August trading volume hit $450 million, with nearly $760 million bet on the U.S. election outcome by late August, according to Dune Analytics.
Polymarket’s rise has also drawn scrutiny. Earlier this year, U.S. Senators and Representatives, including Jeff Merkley and Elizabeth Warren, pushed for a ban on election-related betting, warning that large wagers could potentially undermine public trust by giving wealthy players undue influence over democratic processes.
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