A bold financial gambler has placed a staggering $30 million worth of bets on various aspects of the upcoming U.S. presidential election through prediction market platform Polymarket.
A bold financial gambler has placed a staggering $30 million worth of bets on various aspects of the upcoming U.S. presidential election through prediction market platform Polymarket, potentially setting himself up for an $80 million payday.
The investor, identified only as "Theo" in a recent Wall Street Journal report, emphasized that his substantial wagers are purely financial plays rather than political statements. A French national with extensive financial market experience, Theo bases his betting strategy on historical polling patterns, particularly noting how traditional polls underestimated Donald Trump's performance in both the 2016 and 2020 elections.
"My intent is to make money," Theo stated plainly in a Zoom interview with WSJ. "I have absolutely no political agenda." His bets span multiple election outcomes, including Trump's potential victory in the presidential race, success in the popular vote, and wins in crucial swing states such as Pennsylvania, Wisconsin and Michigan.
The high-stakes gambler has reportedly wagered most of his liquid assets on these bets, though the Wall Street Journal couldn't verify whether he was betting with personal funds. If his predictions prove correct across the board, Theo stands to nearly triple his investment, with potential winnings of $80 million. However, an unfavorable outcome could result in a complete loss of his $30 million stake.
During his interview, Theo criticized certain media outlets' election coverage, suggesting they might be understating the potential margin of victory to maintain audience engagement.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
