{"id":1500811,"date":"2024-11-06T20:25:00","date_gmt":"2024-11-07T01:25:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1500811"},"modified":"2024-11-06T20:25:00","modified_gmt":"2024-11-07T01:25:00","slug":"polymarket-whale-profits-top-48-million-from-trump-victory","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/polymarket-whale-profits-top-48-million-from-trump-victory\/1500811\/","title":{"rendered":"Polymarket Whale Profits Top $48 Million From Trump Victory"},"content":{"rendered":"

Polymarket Whale Profits Top $48 Million From Trump Victory<\/span><\/p>\n

\n

The French trader, known as Th\u00e9o, who wagered heavily on Trump winning the Electoral College (and the popular vote) made almost $50 million from his bets on Polymarket.<\/strong><\/p>\n

<\/a><\/p>\n

The company said that the anonymous election bettor – a French national with\u00a0 \u201cextensive trading experience and a financial services background\u201d<\/strong> – was the whale behind four accounts – Fredi9999, Theo4, PrincessCaro, and Michie.<\/a><\/p>\n

With the election over – and in his favor – the French bettor has catapulted to the top of Polymarket’s all-time profit leaderboard.<\/p>\n

The biggest\u00a0Trump-betting account on Polymarket<\/a>, known as \u201cTheo4,\u201d earned more than $22.0 million in profit on his pro-Trump bets.<\/p>\n

Combining that with his other accounts means ‘Theo’ made around $47.6 Million…<\/strong><\/p>\n

<\/a><\/p>\n

During October, 10 whale addresses spent a combined $70.6 million worth of USD Coin to place bets on Trump winning the\u00a02024 US election.<\/p>\n

As CoinTelegraph reports, <\/a>considering\u00a0Trump\u2019s projected victory<\/a>, the profitable payday may be close for the Polymarket whales, since the \u201cmarket resolves when the Associated Press, Fox and NBC all call the election for the same candidate,\u201d <\/strong>according to Polymarket\u2019s disclaimer.<\/p>\n

Over 50% of Trump \u201cYes\u201d shares are controlled by five whales on Polymarket<\/h2>\n

As of Nov. 4, a day ahead of election day, over 50% of Donald Trump\u2019s \u201cYes\u201d votes on Polymarket were controlled by five mysterious whales.<\/p>\n

<\/a><\/p>\n

Top Trump-betting accounts. Source: Polymarket<\/em><\/p>\n

This could result in a payday exceeding $81 million for the whales, pseudonymous political bettorDomer wrote in an Oct. 31 X\u00a0post<\/a>:<\/p>\n

\u201cTrump Yes shares are very highly concentrated.<\/strong> 5 fat cat accounts own 50% of the 162 million shares — including the Le Giga Whale with nearly 1\/3rd by himself. Those 5 will be paid out $81 million if Trump wins.\u201d<\/em><\/p>\n

<\/a><\/p>\n

Trump \u201cYes\u201d shareholders on Polymarket. Source: Domer<\/em><\/p>\n

In contrast, shares for Vice President Kamala Harris were more distributed, with the top five shareholders holding 18% of her \u201cYes\u201d votes.<\/strong> Harris\u2019 largest shareholder ha only 4.4% of her shares, while Trump\u2019s top shareholder controlled 29.1%, Domer added.<\/p>\n

At least four of the top six Trump bettors, including accounts \u201czxgngl\u201d and \u201cFredi9999,\u201d may be controlled by one entity with high confidence in a Trump victory, Domer told Cointelegraph:<\/p>\n

\u201cMy guess is it is a true believer who is very rich and trying to make a big bet. He is getting more confident as the price goes higher and is in a confirmation bias loop where new information keeps increasing his confidence.\u201d<\/em><\/p>\n

Decentralized prediction markets may offer more accurate predictions than traditional polling systems, as investors are voting with their savings, according to\u00a0billionaire Elon Musk<\/a>.<\/p>\n

What does Trump\u2019s victory mean for crypto in the US?<\/h2>\n

For the latest analysis of Trump\u2019s election victory and the crypto market reaction, tune in to today\u2019s\u00a0Rise\u2019n\u2019Crypto<\/em>\u00a0podcast from Cointelegraph.<\/a><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nWed, 11\/06\/2024 – 15:25<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/crypto\/polymarket-whale-profits-top-48-million-trump-victory<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Polymarket Whale Profits Top $48 Million From Trump Victory The French trader, known as Th\u00e9o, who wagered heavily on Trump winning the Electoral College (and…<\/p>\n","protected":false},"author":0,"featured_media":1500812,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1500811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1500811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1500811"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1500811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1500812"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1500811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1500811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1500811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}