The French “whale” who bet $30 million on a Trump White House win via Polymarket has made a $48 million profit on the bet, according to the crypto-based betting platform.
The unidentified bookmaker, who goes by Theo, controlled four separate accounts on the platform, each of which bet some money on Trump winning the Electoral College and popular vote, as well as Republican candidates in swing states.
Estimates revealed on Wednesday morning Former President Donald Trump has claimed victory over Vice President Kamala Harris. propelled Theo to become the 47th President of the United States – increasing his massive lead to the top of Polymarket’s all-time winners board.
The Theo4 Polymarket account stands at around $22 million in profits, while the trader’s three other accounts – Freddy9999, PrincessCaro and Mixi – made a combined $26 million.
Media outlets have questioned the French trader’s motives for placing such a large amount of money on Trump, but Theo said Polymarket’s moves were simply good bets.
“My intention is just to make money,” he told The Wall Street Journal during a Zoom call last week.
“I have absolutely no political agenda,” the businessman wrote in a follow-up email to the newspaper.
The trader’s risky bets paid off big as the mysterious figure a day before the election resulted in an unrealistic loss of almost $3 million, while polls continued to predict a close race.
As of Wednesday afternoon, according to The Associated Press, it appears that former President Donald Trump has captured the White House with sweeping “red wave” victories in several swing states.
Polymarket, along with other newly popular Election betting platforms like KalshiNow trying to establish himself as a more accurate race predictor.
“Last night, PolyMarkets proved market intelligence to be superior to surveys, media and pundits,” the company said in a statement on Twitter. , deeply liquid prediction markets such as those pioneered by Polymarket.
According to the Polymarket site, on the morning of the day before Election Day, the betting site said Trump’s chances of winning the presidency were 58.6%, while Harris’ chances were 41.4%.
Meanwhile, NBC News’s last poll before the election, released Sunday, showed the candidates tied – each with the support of 49% of registered voters.
