Donald Trump's Latest Polymarket Whale Could Win Almost $10 Million

A new whale trader has become Donald Trump’s biggest shareholder in Polymarket’s 2024 presidential election winner market.

What Happened: Data from Lookonchain revealed the whale, known as "zxgngl," withdrawing 2.36 million USDC/USD from Binance to place a fresh bet on Trump's victory on Monday morning.

Since Oct. 11, the whale has withdrawn a total of 14.2 million USDC from Binance to bet on Donald Trump. Their position stands at 22.9 million shares, worth $13.25 million at the time of writing. The whale trader is currently over $250,000 underwater but stands to gain almost $10 million if the former President wins a second term.

Also Read: Bitcoin, Gold Will Surge If Donald Trump Wins: JPMorgan

Why It Matters: The whale trader’s significant investment in Trump’s potential victory highlights the intense speculation and diverse opinions surrounding the 2024 presidential election.

Other traders have backed the Vice President, with Polymarket’s all-time leading trader recently placing over $500,000 on Kamala Harris to win the presidency, the popular vote, and the state of Pennsylvania.

Another trader, known as Redegen, has predicted a Trump presidency while also betting on Harris to win the popular vote. Redegen’s portfolio includes 9.2 million shares on Harris winning the popular vote and 2.6 million on her winning the presidency, with an unrealized profit of over $1.2 million.

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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