Whales Profit Over $47M After Betting Trump to Win U.S. Elections

A group of high-stakes whales on the betting platform, Polymarket, have collectively pocketed over $47 million after betting that former President Donald Trump would win the U.S. election.

These whales who wagered millions in the weeks leading up to Election Day have earned massive payouts as results now show that Donald Trump would become the 47th U.S. president.

Payouts for Polymarket’s Biggest Whales

In the weeks leading up to the election, several mysterious accounts poured millions into betting on who would secure the presidency. Both Trump and Harris had some big bettors wager millions on them to win the elections but Harris attracted less whales than Trump.

While several whales backed Trump in the lead-up to the election, a few emerged as standout winners. One account, known only as “zxgngl,” emerged as one of the largest players, betting a staggering $18 million on contracts that would pay out if Trump won. This single bet paid off, bringing in a profit of $11 million for the account holder.

Additionally, accounts like, “Fredi9999,” and “walletmobile,” placed $11.65 million and $10 million wager respectively on a Trump victory. This bet led to a $15.6 million and $16 million payout.

However, according to Wall Street Journal, a trader going by “Théo,” who had wagered over $30 million on Trump across four accounts, gained the most. His Polymarket account, “Theo4,” earned him a breathtaking profit of $29 million.

Bitcoin Reaches ATH Amid Trump’s Win

Bitcoin, the world’s largest cryptocurrency, has hit a new all-time high rocketing to $75,370, according to coinmarketcap data.

BTC gained 6.42% today, pushing it to surpass its previous peak of $73,750 set in March earlier this year, soaring to an unprecedented high above 75k amid the ongoing U.S. election.

The surge in Bitcoin’s price can be attributed to many factors. The influx of institutional investment has played a crucial role, with major firms increasing their BTC holdings. Last week, Japanese investment firm Metaplanet emerged as a major Bitcoin buyer this cycle, bringing its total BTC holdings to 1,018.17 BTC, valued at roughly $68.8 million, with the latest purchase.

Many investors see a Trump win as extremely bullish for the crypto industry. They believe that his victory will be favorable for crypto assets, leading to reduced regulatory pressures and clearer trading guidelines.
His win has led to heightened trading activity and increased confidence in the cryptocurrency market.