In an astonishing turn of events, a French gambler has won an incredible $85 million after making a series of successful bets on Polymarket, a well-known crypto-based prediction market. The individual, known only as Theo, a former trader, placed high-stakes wagers on the outcome of the November 2024 US election, accurately predicting Donald Trump’s victory.
The blockchain analysis firm, Chainanalysis, confirmed the enormous win, revealing that the French bettor wagered a substantial amount on Trump’s success through Polymarket, a decentralized platform that enables users to bet on political outcomes using cryptocurrency. This platform, recognized for its volatility and strong following among political and market analysts, experienced significant activity during the 2024 election cycle.
In a series of coordinated bets, Theo’s accounts exhibited remarkably similar traits, with 11 Polymarket accounts all placed at the same time and emptied simultaneously, according to Chainanalysis. The firm conducted thorough cross-checking and linked these accounts to the successful bettor, further validating the massive amount wagered and won.
While the gambler’s identity remains partially hidden, his bet has captured global attention, highlighting the growing influence and potential of crypto-based prediction markets. This extraordinary win underscores not only the financial risks associated with such platforms but also their rising prominence in the realms of sports, politics, and entertainment betting.
As the crypto industry continues to develop, Theo’s victory serves as a reminder of the expanding role of blockchain in creating new forms of wagering, presenting both opportunities and risks for those bold enough to make daring predictions.
