Trump’s Victory Earns Three Crypto Whales $47 Million on Polymarket 🇺🇸

Three significant crypto investors made $47 million gains on Polymarket after Donald Trump’s win. Among the big winners was "Theo4," who secured a hefty $20.4 million from pro-Trump bets. This marked one of the most substantial single-event betting gains in recent times.

Other notable figures included "Fredi9999," who accumulated $15.6 million, and "zxgngl," who made over $11 million, showcasing the vast potential of prediction markets.

According to Lookonchain, in October, ten whale addresses spent $70.6 million in USDC betting on Trump, signifying a strong belief in his victory. This considerable investment resulted in significant profits for these large investors.

The Associated Press declared Trump the winner of the 2024 presidential election, sparking over $3 billion wagers on Polymarket as users bet on Trump or Harris claiming victory. This period saw massive growth for Polymarket, fueled by intense interest in the political scene.

With a trading volume surge of 368% between September and October, Polymarket attracted increased user participation driven by the unpredictable electoral climate. For many, the market volatility serves as a primary attraction in such prediction markets.

Investors buy contracts that pay out if a specific result occurs, and contract prices change based on outcome likelihood. Users can profit without the original outcome by timing market changes, emphasizing Polymarket's dynamic appeal.