The mysterious French gambler 'Théo' earlier wagered tens of millions of dollars on Polymarket betting that Trump (Donald Trump) would win the U.S. election, even 'opening 4 accounts' to continually increase his bets, ultimately successfully 'hitting the jackpot' with a net profit of at least $78 million; however, at the same time, Polymarket has also attracted attention from French authorities due to its size, facing the risk of being blocked in France.
According to the latest statistics from blockchain analysis firm Chainalysis, Polymarket's whale trader Théo, also known as 'Fredi9999', made a net profit of up to $78.7 million through a series of large bets on the U.S. presidential election contracts.
In addition to betting on Trump winning, Théo also correctly bet on the results of swing states like Pennsylvania, Michigan, and Wisconsin, even believing that 'Trump will defeat Kamala Harris in the popular vote.' This series of 'contrarian' operations made him famous after the election.
Théo sparked controversy at the beginning of the election campaign, being accused of manipulating Polymarket's betting odds through multiple accounts, creating an atmosphere of 'high support' for Trump by raising his winning probability.
However, Polymarket pointed out last month that third-party expert investigations found no evidence of market manipulation, and experts believe that prediction markets simply reflect public expectations based on all current information. According to trading and financial services company Presto, the betting related to this U.S. election accumulated nearly $3.7 billion in trading volume on the Polymarket platform, indicating the high level of interest in election betting.
According to previous statements from Polymarket, Théo, who has '4 accounts' and invested over $45 million to support Trump, is actually a Frenchman with rich trading experience and a financial background.
However, Chainalysis discovered through analysis of fund flows, transaction times, and withdrawal records that 'Théo may actually control up to 9 accounts.'
French authorities have launched an investigation and are considering blocking Polymarket.
On the other hand, a spokesperson for the French gambling authority (L’Autorité Nationale des Jeux, ANJ) told foreign media (The Block) that authorities have begun investigating Polymarket's platform operations and compliance, and are considering a complete blockade of the platform in France.
According to reports from French cryptocurrency media (The Big Whale), ANJ is also closely monitoring Théo's betting activities on the Polymarket platform. France has strict regulations on online gambling, and all new gambling markets must obtain prior authorization from ANJ.
"Gambler Théo bets on Trump winning, nets $78 million! French authorities consider blocking Polymarket" was first published in (Blockcast).