Polymarket ‘whale’ raked in $85M on Trump win — millions more than previously reported
The French “whale” who bet millions on a Trump win raked in about $85 million in profits – more than $50 million more than previously reported, according to a report.
The anonymous bettor, who goes by Théo, was previously believed to operate four separate accounts on Polymarket, the online betting platform that sold Donald Trump and Kamala Harris contracts ahead of the presidential election. Americans are not permitted to trade on Polymarket, though the platform is planning to return to the US.
But the trader created an additional seven accounts in October after news outlets started to pick up his outsize bets, according to Chainalysis research reported by The Wall Street Journal.
Théo placed more than $70 million on bets that Trump would win the Electoral College and the popular vote across his 11 accounts, all of which had unassuming names like PrincessCaro, Jenzigo and RepTrump, according to the Journal.
The mysterious French trader told the Journal he downplayed the size of his bets “for reasons of personal safety and to limit the disruption in my personal life, should my identity be disclosed some day.”
He said he was the only individual acting on the accounts and had funded the bets on his own.
Meanwhile, Polymarket’s website on the morning before Election Day said Trump had a 58.6% chance of winning the presidency while Harris’ odds stood at 41.4%. The site’s bets were a more accurate prediction than the most recent polls.
New gambling markets are required to receive advanced approval from the regulator.
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