The mysterious French gambler "Théo" previously wagered tens of millions of dollars, betting on Polymarket that Trump (Donald Trump) would win the U.S. election, even opening "4 accounts" to continuously 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 the attention of French authorities, facing the risk of being blocked in France.
According to the latest statistics from blockchain analysis company Chainalysis, the whale trader on the Polymarket platform, Théo, also known as "Fredi9999", made a net profit of up to $78.7 million through a series of large bets in the U.S. presidential election contracts.
In addition to betting on Trump's victory, Théo also correctly bet on the results of swing states such as Pennsylvania, Michigan, and Wisconsin, even believing that "Trump will defeat Kamala Harris in the popular vote". This series of "counterwind" operations made him famous after the election.
Théo sparked controversy at the beginning of the election campaign, being questioned for manipulating the odds of the Polymarket betting pool through multiple accounts, creating an atmosphere of "high support" for Trump by boosting his winning odds.
However, Polymarket pointed out last month that third-party expert investigations found no evidence of market manipulation, and experts also believed that prediction markets simply reflect public expectations based on all current information. According to Presto, a trading and financial services company, the betting related to this U.S. election has accumulated nearly $3.7 billion in trading volume on the Polymarket platform, indicating the high enthusiasm for election betting.
According to previous statements from Polymarket, Théo, who has "4 accounts" and has invested over $45 million in support of Trump, is actually a Frenchman with extensive trading experience and a financial background.
However, Chainalysis found through analyzing the flow of funds, transaction times, and withdrawal records that "the accounts actually controlled by Théo may be as many as 9".
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 the operation and compliance of the Polymarket platform and are considering a complete ban on the platform in France.
According to the French cryptocurrency media (The Big Whale), ANJ has actually been 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's victory, netting $78 million! French authorities consider blocking Polymarket" was first published on (Blockcast).