French trader netted $79 million from Donald Trump wagers on PolyMarket Republican candidate Donald Trump is not the only one claiming victory in the just-concluded US elections. Theo4, reportedly a French trader, is also making headlines for pocketing close to $79 million from a high-stakes bet on Trump winning a second term on the decentralized betting marketplace Polymarket.
Chainalysis noted that reports had previously rumored that Theo held four accounts on Polymarket with substantial bets on Trump. However, further analysis by blockchain intelligence firm Chainalysis identified nine accounts likely controlled by the same individual. This finding came from a detailed review of funding patterns, transaction timing, and cash-outs to specific exchange deposit addresses.
This network of accounts achieved around $78.7 million in net profits by betting on Trump’s victory.
Meanwhile, Theo’s trading patterns had drawn increased scrutiny as the election neared, as his large-scale bets raised questions. Despite this, Theo, who WSJ reported identifies as a veteran European financial investor, maintained that his bets reflect firm conviction about the election outcome.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.
Polymarket
Polymarket is a decentralized prediction market platform that enables users to bet on world events using cryptocurrency.
