Gambler hits $85m jackpot betting on Trump victory

NEW YORK, Nov 14 (AFP): A man made $85 million in a series of wagers on Polymarket, a crypto-based prediction market that was a popular platform for betting on the US election won by Donald Trump, a blockchain analysis firm told AFP Wednesday.

The Wall Street Journal said the man is a French citizen and former trader whose first name is Theo, though he declined to publicize his last name.

Last month, Polymarket said a French bettor had in fact wagered a large sum on Trump winning the November 5 election. Chainanalysis, an American blockchain analysis firm, said it had done cross-checking and identified 11 Polymarket accounts with similar characteristics.

These accounts were fed at the same time, made bets at the same time and were emptied simultaneously, Chainanalysis told AFP. This gambler bet a total of $70 million on Trump winning the election over Kamala Harris.