Republican

Victory

Arkham

Gary

With the U.S. election outcome imminent, Polymarket has seen significant interest from anonymous high-stakes bettors wagering millions on former President Donald Trump’s victory.
The offshore crypto-based betting platform shows that one notable bettor stands to earn as much as $29 million if the Republican candidate wins the election.
It’s worth noting that while Trump indeed proclaimed victory, it still hasn’t been confirmed by all responsible authorities.
<h2 id="potential-29-million-payout">Potential $29 Million Payout</h2>
A Polymarket account identified only as “zxgngl” has staked $18 million on Trump winning the Electoral College, potentially yielding over $29 million in winnings if he secures the victory.
Data from blockchain analysis firm Arkham Intelligence <a href="https://x.com/ArkhamIntel/status/1853845301758476610" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">reveals</a> that this account was created in October by an anonymous user, who made a series of heavy investments, including $5 million in a single day this past Monday.
Another significant wager comes from an account named “walletmobile,” which has invested $10 million on the same outcome. Arkham Intelligence data shows that this bettor would walk away with $16 million if Trump wins. Polymarket shows that “walletmobile,” while initially set up in September, only began making large-scale bets earlier today.
These accounts are the latest to join a wave of high-stakes betting on Polymarket. The Wall Street Journal recently <a href="https://www.wsj.com/finance/trump-odds-polymarket-election-betting-whale-3d94bed3" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">reported</a> that a French bettor, who identifies as “Theo,” has staked more than $30 million across four separate accounts in favor of a Trump victory.
While Trump supporters dominate the high-dollar betting, Vice President Kamala Harris has also gotten bets. An account named “leier” has invested approximately $5 million on a Harris victory, which would yield nearly $11 million if she wins. Bettors supporting either candidate face an all-or-nothing risk, with a chance to earn substantial returns or lose their entire stake.
<h2 id="polymarket-odds-in-favor-of-trump">Polymarket Odds In Favor of Trump</h2>
At the time of writing,&nbsp; Polymarket <a href="https://cryptopotato.com/us-presidential-election-2024-results-odds-of-donald-trump-winning-explode-on-polymarket/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">showed</a> a 95% probability of a Trump victory, with the platform asserting Trump’s impending success on its X account.
“Trump is about to give his victory speech. His odds have been &gt;95% on Polymarket for hours. Yet the mainstream media is still stringing you along for ‘critical calls’ and ‘paths to victory,’” the <a href="https://x.com/Polymarket/status/1854042332821074269" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">post </a>stated.
Trump’s victory is particularly important for the crypto sector. Throughout his campaign, he maintained a friendly <a href="https://cryptopotato.com/trump-vows-to-end-harris-war-on-crypto-as-he-celebrates-bitcoin-white-papers-16th-b-day/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">stance</a> on crypto, even proclaiming at the Bitcoin conference in Nashville, Tennessee, that he would fire Gary Gensler, chair of the Securities and Exchange Commission (SEC), who has pursued a more restrictive approach toward digital assets.
Trump has also suggested that he would consider eliminating U.S. taxes on cryptocurrencies, opting instead for a tariff system that could redefine the industry’s regulatory landscape.
The post <a href="https://cryptopotato.com/polymarket-bettor-to-earn-29m-as-trump-declares-victory/" rel="noopener noreferrer nofollow">Polymarket Bettor to Earn $29M as Trump Declares Victory</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Polymarket Bettor to Earn $29M as Trump Declares Victory

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