TL;DR
- A crypto bettor won $48.35 million after Trump’s victory in the 2024 election, investing $27 million in Polymarket.
- Other bettors also won large sums, such as “zxgngl” ($24.75 million) and “GCottrell93” ($13.28 million), by predicting Donald’s triumph.
- Despite bets placed in favor of Kamala Harris, the defeat of the Democrat solidified pro-Trump bettors as the biggest beneficiaries.
A crypto bettor earned $48.35 million following Donald Trump’s victory in the 2024 U.S. presidential election.
According to the analysis platform Arkham, the trader, who had invested over $27 million in the Polymarket prediction platform, bet on Trump’s victory, resulting in a multimillion-dollar return after the announcement of his win.
$30 MILLION DOLLARS IF DONALD TRUMP WINS
Polymarket user “zxgngl” has now spent $18 MILLION betting on Trump, making him the largest single Trump bet on Polymarket
He will win $29.47 MILLION if Trump wins the election. pic.twitter.com/J9k765N0Vt
— Arkham (@ArkhamIntel) November 5, 2024
The bettor, identified by the username “Fredi9999,” was not the only one placing a large bet in favor of the former president. Other users in this betting market also made significant wagers, anticipating Trump’s victory.
Some of the main bettors, such as “zxgngl” and “GCottrell93,” also made multimillion-dollar bets, with the potential to win amounts reaching $24.75 million and $13.28 million, respectively, if Trump were to secure the win.
A Tragic Night for Pro-Harris Crypto Traders
On the other hand, supporters of the Democratic candidate Kamala Harris also made considerable bets. A user named “Ly67890,” who had staked $5.91 million on Harris, could have received a $16 million return if she had won the election. Despite substantial bets on Harris, Trump’s victory in the election made him the big beneficiary in the betting market.
Trump’s victory was confirmed after a partial count of electoral votes, in which the Republican candidate gained a significant lead, although the full vote count had not been completed. However, Donald himself had already declared victory following what he described as a major comeback in the electoral process.
This triggered an immediate reaction in the cryptocurrency market and betting platforms, where bettors who correctly predicted the Republican’s victory saw exceptional returns on their investments
