Four mysterious accounts reportedly bet $30 million on Trump in November's presidential election.
Bettors on Polymarket, a cryptocurrency-based prediction market, have increased their bets that the Republican candidate will win the election in recent weeks.
The national opinion poll average is 538 Harris had a 2.5 point lead over Trump, compared to 60% betting odds on Friday at Polymarket, compared to 39% for Harris.
Opponents were evenly matched in online markets until October 7, when the former president began making significant profits.
A flood of support for Trump wall street journal The first reports can be attributed to four Polymarket accounts: Fredi9999, Theo4, PrincessCaro, and Michie. Together, these accounts reportedly bet tens of millions of dollars in cryptocurrency against Trump.
“There is strong reason to believe that these are the same entity,” Miguel Morell, founder of Arkham Intelligence, a company that analyzes blockchain and cryptocurrency activity, told the outlet.
Arkham discovered that all four of these accounts were funded by deposits from the US cryptocurrency exchange Kraken.
Each of these accounts operates similarly, Arkham said, increasing the size of bets at the same time and betting that Trump will win battleground states and the general election.
Polymarket is investigating market activities surrounding the presidential election, a person familiar with the matter said. journal. independent person has reached out to Polymarket for comment.
Some people online are warning that if President Trump loses, he could use polymarket odds to claim the election was “rigged.”
Cryptocurrency investor Adam Cochran expressed similar sentiments. journal, He warned that the increased odds in Trump's favor could create a perception of pro-Trump momentum that contradicts polling. “This is the most efficient political advertising you can buy,” Cochran told the outlet.
The gambling spree also came a day after SpaceX founder and vocal Trump supporter Elon Musk pointed out Trump's slim lead in the polymarket in a post on X. “Trump currently has a 3% lead over Kamala in the betting market. It's more accurate than polls because there's real money at stake.”
It's unclear whether Musk's post, which has been viewed 87 million times, led to prediction market bets.
