On Polymarket, the odds of Donald Trump reclaiming the U.S. presidency by defeating Vice President Kamala Harris in next month's election surged to as high as 13% on Thursday.
While it's not completely clear what exactly spurred the increased confidence in Trump's chances, a mystery trader on the decentralized prediction platform with the call sign Fredi9999 has recently purchased millions of shares, wagering the real estate tycoon-turned-president will beat Harris.
Earlier this week, Fredi9999 owned about 7 million shares in favor of Trump winning, according to Benzinga. Now, the trader owns nearly 11 million shares, according to Polymarket data. In just the last hour, Fredi9999 bought hundreds of thousands of dollars worth of shares, wagering that Trump would win, according to the platform's data.
The total volume on the wager over who will win between Trump and Harris has so far surpassed $1.6 billion. In 2020, the presidential election generated just under $11 million in wagers on Polymarket.
Snapshot of Polymarket bets on winner of U.S. presidential election. Image: Polymarket
At the beginning of this week, Trump's lead was considerably less when Tesla CEO Elon Musk took to X to say Polymarket was more accurate than polls. At the time, Trump's odd had risen to 50.6%, compared to Harris' 48.4%.
In September, the decentralized prediction platform saw record highs in the monthly categories for trading volume, active traders, new markets and cumulative trading, according to The Block Data Dashboard. Polymarket has raised $45 million in a Series B funding round led by Peter Thiel’s Founders Fund and existing investors 1confirmation and ParaFi, with participation from Ethereum co-founder Vitalik Buterin, Dragonfly and Eventbrite’s co-founder Kevin Hartz.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
