Gambler wins $85mn jackpot betting on Trump victory

A man reportedly earned $85 million through multiple bets made on Polymarket, a cryptocurrency-based prediction market that gained popularity for wagering on the US election won by Donald Trump, according to a blockchain analysis company that spoke to AFP on Wednesday.

The Wall Street Journal reported that the individual is a French national and former trader named Theo, though he chose not to disclose his last name.

Recently, Polymarket indicated that a French bettor had indeed placed a significant wager on Trump winning the election scheduled for November 5.

Chainanalysis, a US-based blockchain analysis firm, stated that it had performed cross-checks and discovered 11 Polymarket accounts exhibiting similar traits.

These accounts were funded simultaneously, placed bets at the same time, and were drained at the same time, Chainanalysis informed AFP.

This gambler wagered a total of $70 million on Trump defeating Kamala Harris.

Once the election results were announced, he not only retrieved his initial wager but also secured $85 million in profit.

The Frenchman confirmed to the Journal that he did earn this amount of money.