Polymarket Bettor Set to Earn $29M as Trump Declares Victory

As the U.S. election results unfold, Polymarket has become a hotspot for high-stakes betting, particularly on former President Donald Trump’s potential victory. One anonymous bettor stands to gain a staggering $29 million if Trump secures the win.

Significant Wagering Activity

The Polymarket betting platform has seen immense interest, with one account, known as "zxgngl," placing an $18 million bet on Trump winning the Electoral College. If successful, this wager could yield over $29 million in profits. The account was created in October and has made several substantial bets, including a $5 million wager just days ago.

Another bettor, identified as "walletmobile," has also placed a hefty $10 million bet on Trump’s victory, which could net them $16 million if he wins. This account began making significant bets only recently, showing the growing confidence in Trump’s chances.

The Betting Landscape

The surge in high-stakes betting is not limited to just Trump supporters. Vice President Kamala Harris has also attracted bets, with one account named "leier" investing approximately $5 million on her victory, potentially earning nearly $11 million.

Polymarket currently reflects a 95% probability of Trump winning, with the platform asserting his imminent success. The excitement surrounding Trump's potential win is palpable, especially given his favorable stance on cryptocurrencies throughout his campaign.

Implications for the Crypto Sector

Trump's presidency could have significant implications for the cryptocurrency market. He has indicated plans to fire SEC Chair Gary Gensler, who has been known for his stringent regulations on digital assets. Additionally, Trump has proposed eliminating U.S. taxes on cryptocurrencies, favoring a tariff system that could reshape the regulatory landscape.