Crypto Whales Reap $47 Million on Polymarket as Trump Wins U.S. Presidency

Crypto Whales Score Big on Trump’s Victory in Polymarket’s Betting Arena

Some of the wealthiest crypto investors, or “whales,” have capitalised significantly on Polymarket, a decentralised prediction market, following Donald Trump’s presidential win.

The platform, which allows users to predict real-world events through betting contracts, saw an unprecedented surge in activity, reflecting both the intense interest in this year’s election and the sizeable wagers that followed it.

Ahead of the election in October, 10 whales bet $70.6 million on Trump.

Following the results, these traders saw massive returns, with the account "Theo4" reportedly earning over $20.4 million.

The Biggest Betters Walk Away with $47 Million

On 6 November, blockchain analytics firm Lookonchain revealed on X (formerly Twitter) that “Theo4”’s bet on a Trump victory led to a remarkable $20.4 million profit, marking one of the largest single-event wins in crypto betting history.

According to Chainalysis, “Theo4” belongs to a French man who holds 4 Polymarket accounts.

This victory was no isolated windfall—another prominent bettor, “Fredi9999,” walked away with $15.6 million in earnings, and “zxgngl” followed closely, securing a profit of over $11 million.

For “Theo4” and other crypto whales, the election outcome marked the high point of a series of carefully calculated bets that capitalised on both their political convictions and the volatile nature of prediction markets.

Whale Investors Bet Big on Trump’s Return to Power

October saw a wave of large bets, as Lookonchain highlighted a remarkable influx of USDC placed on Trump’s success.

According to the report, 10 whale accounts collectively staked $70.6 million in USDC—a significant financial commitment that mirrored a strong belief in Trump’s chances.

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This high-volume betting indicates that, for many in the crypto space, Trump’s campaign was seen not just as a political event but as an investment opportunity with the potential for major financial return.

This approach, however, required not only financial backing but also a deep trust in their bets.

A $3.2 Billion Betting Bonanza on Polymarket

Polymarket’s platform witnessed a record-breaking $3.2 billion in election-related bets, making it one of the most popular avenues for wagering on the 2024 election outcome between Trump and Harris.

As news broke on 6 November, with the Associated Press confirming Trump’s victory at 10:46 am UTC, the scale of the betting frenzy became even more apparent.

Polymarket’s numbers showcased the platform’s rapid growth, especially as election day drew near, attracting both new and seasoned participants hoping to capitalise on the unfolding drama.

Trading Volumes Skyrocket as Election Nears

Between September and October, Polymarket experienced an explosive 368% surge in trading volume, a clear indicator of growing user interest as the election date approached.

This significant increase in activity demonstrates how closely aligned Polymarket’s growth is with current events, particularly in the political arena.

The volatile atmosphere surrounding the 2024 election fed into this trend, as users rushed to take advantage of fluctuating contract prices and the potential for high returns.

The Mechanics of Profit in Prediction Markets

At the heart of Polymarket’s appeal is its contract-based system, which allows users to buy contracts linked to specific outcomes.

Each contract pays out $1 if the predicted result materialises.

Throughout the election, these contract prices shifted in line with the probability of a Trump or Harris victory, providing traders with opportunities to buy low and sell high.

Importantly, this system allows bettors to secure profits even before the final outcome, provided they time their trades effectively.

For many, this ability to navigate and profit from market volatility is a major draw in the high-stakes world of crypto prediction markets.