Big-money investors betting on Donald Trump’s 2024 win are raking in profits on Polymarket, a top prediction platform. The leading pro-Trump account, “Theo4,” earned over $20 million, with other major players, like “Fredi9999” and “zxgngl,” pulling in $15.6 million and $11 million, respectively, according to Lookonchain data from Nov. 6.
In October alone, ten big accounts spent over $70 million in USD Coin betting on Trump. By Oct. 18, “Fredi” pushed Trump’s odds above 60% with a $20 million buy. Then, on Oct. 28, “zxgngl” raised the odds to 66% with a $7.22 million investment.
Trump Gets Over 50% “Yes” Shares on Polymarket
With Trump expected to win, Polymarket’s biggest bettors could be in for a major payday. Per Polymarket’s rules, the “market resolves when the Associated Press, Fox, and NBC all call the election for the same candidate.” On Nov. 6 at 10:46 am UTC, the AP declared Trump the 2024 election winner.
A day before election day, five anonymous “whales” held over 50% of Trump’s “Yes” bets on Polymarket. If all goes as expected, these top players stand to split a payout of over $81 million, according to political bettor Domer on X.
“Trump Yes shares are very highly concentrated. 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.”
Vice President Kamala Harris’s shares are more widely spread among her supporters, with the top five holding 18% of her “Yes” votes. Her largest shareholder holds only 4.4% of her shares, compared to Trump’s top shareholder, who has 29.1%, according to Domer.
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Domer also shared with Cointelegraph that at least four of Trump’s top six bettors—including accounts “zxgngl” and “Fredi9999”—may be controlled by a single entity, showing high confidence in a Trump win. “It seems to be a very wealthy believer placing a big bet. As the price rises, they grow more confident, likely in a confirmation loop where new information just boosts that confidence,” Domer explained.
Billionaire Elon Musk has suggested that decentralized prediction markets may offer better predictions than traditional polling, as investors put their own money on the line when they make bets.
Donald Trump Wins US Elections; Will Bitcoin Price Cross $100K?
Crypto investors are celebrating Donald Trump’s victory over Kamala Harris in the 2024 U.S. Presidential Election. Recent reports confirm the former president’s win, which has sparked optimism in the market, with many hoping this could drive Bitcoin’s price closer to the $100K mark. The excitement doesn’t stop there, as investors are also encouraged by crypto’s expanding influence in U.S. politics.
Donald Trump Secures Victory In the US Election
Donald Trump’s election win has pumped up excitement in the crypto world. The Stand With Crypto report confirmed that Trump beat Kamala Harris, and it seems voters favoured pro-crypto candidates, as Coinbase CEO Brian Armstrong noted.
His victory has also stirred up talk about how the US SEC might change its stance on crypto. Many in the industry see the SEC as anti-crypto, holding back growth and innovation.
On top of that, Trump’s win has fueled hopes for a crypto rally. Bitcoin is already hitting new highs, and some believe it could soon reach $100,000. The crypto community is buzzing with anticipation.
Conclusion
The big wins on Polymarket show just how high the stakes are for crypto investors betting on politics. Trump’s victory has sparked a new wave of optimism, with Bitcoin climbing and pro-crypto sentiment on the rise. For top bettors like “Theo4,” it’s a massive payday, but for the crypto world, it’s also a sign that digital assets are taking a stronger role in shaping the future.
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