French dealer netted $79 million from Donald Trump wagers on PolyMarket

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Republican candidate Donald Trump just isn’t the one one claiming victory within the just-concluded US elections. Theo4, reportedly a French dealer, can also be making headlines for pocketing near $79 million from a high-stakes wager on Trump successful a second time period on the decentralized betting market Polymarket.

Chainalysis famous that stories had beforehand rumored that Theo held 4 accounts on Polymarket with substantial bets on Trump. Nonetheless, additional evaluation by blockchain intelligence agency Chainalysis recognized 9 accounts doubtless managed by the identical particular person. This discovering got here from an in depth assessment of funding patterns, transaction timing, and cash-outs to particular change deposit addresses.

Polymarket
Polymarket Whale Achieve (Supply: Chainalysis)

This community of accounts achieved round $78.7 million in internet income by betting on Trump’s victory.

In the meantime, Theo’s buying and selling patterns had drawn elevated scrutiny because the election neared, as his large-scale bets raised questions. Regardless of this, Theo, who WSJ reported identifies as a veteran European monetary investor, maintained that his bets mirror agency conviction concerning the election end result.

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