Major Win for Polymarket Whale
Blockchain analytics firm Chainalysis revealed that a French trader known as “Théo” netted $79 million on Polymarket by betting on Donald Trump’s victory in the U.S. election. Théo’s wagers spanned several swing states, the popular vote, and Trump’s overall win, contributing to the platform’s record-breaking trading volume.Controversy and Investigation in France
As Théo’s profits capture attention, French regulators are investigating Polymarket’s compliance with national gambling laws, raising concerns about the platform’s legal standing. The ANJ, France’s gambling authority, is considering a ban, following reports of Théo’s alleged market manipulation. This probe highlights the complexities of crypto-based prediction markets as regulators worldwide assess their legality.Betting Trends and Market Insights
Théo’s alternative polling methods highlighted the “shy Trump voter effect,” using contrarian polling data to shape his bets. The success of Théo’s wagers underscores how prediction markets can reveal unique insights, though they remain controversial within traditional gambling frameworks.
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