Donald Trump's Re-Election Nets French 'Trump Whale' Almost $50 Million On Polymarket (UPDATED)

Editor’s note: The story has been updated with additional details about Polymarket.

The French ‘Trump whale’ known as Theo has successfully netted a profit of almost $50 million on several bets related to Donald Trump winning the 2024 presidential election.

What Happened: The ‘Fredi tracker‘ monitoring the several accounts linked to the same pseudonymous Frenchman, shows Theo's total gains reaching almost $49.5 million, with his current portfolio value at $100.7 million on prediction market platform Polymarket.

Operating under aliases like Fredi9999, Theo4, PincessCaro, Michie, and RepTrump, his accounts have bet on various topics, including Donald Trump winning the electoral college, the popular vote, the state of Pennsylvania and other Trump-related bets.

Anonymous trader zxgngl, focused exclusively on Trump's election victory, netted $11.4 million. The third largest gainer, walletmobile, also bet solely on a Trump win, profiting $6.1 million.

Also Read: Bitcoin’s Future Under President-Elect Donald Trump: A Look At His Crypto Policies

Why It Matters: Since early October, Theo and his linked accounts have significantly impacted the betting landscape. Initially, his five accounts held a combined position of $6.4 million, with total investments growing to $52 million by the end of October.

In an interview, Theo estimated Trump's chances of winning at 90%, with a 65% likelihood of securing the popular vote. The prediction proved to be prescient, as the former President has become the President-elect and become the first Republican candidate to win the popular vote since George Bush in 2004.

What’s Next: The influence of prediction markets is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

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