Bettors who wagered on President-elect Donald Trump in the 2024 U.S. presidential election are cashing in big on Polymarket, a cryptocurrency-based predictions platform. The site saw a record $3.2 billion in wagers on the presidential outcome, with the majority favoring Trump over Vice President Kamala Harris.
Polymarket, which enables users to place high-stakes cryptocurrency bets on major events, reported that $1.3 billion was wagered on Trump, compared to $827 million on Harris.
Total online election betting worldwide topped $3.6 billion, as high-risk players known as “whales” racked up significant wins on Trump-related wagers.
One major bettor, the account “Fredi9999,” linked to a French high-stakes player, won nearly $50 million across multiple Trump-related bets. Another bettor with the handle “zxgngl” scored $11.4 million while a third user, “walletmobile,” saw a $6.1 million payday.
The platform has been gaining attention for allowing users to invest stablecoins, digital assets pegged to the U.S. dollar, in events ranging from elections to movie box office results.
In May, Polymarket’s founder Shayne Coplan announced a $45 billion funding round led by Peter Thiel’s Founders Fund, with Thiel — an early Trump supporter — bolstering the platform’s growth.
The significant interest and winnings on Trump bets underscore the rising popularity of cryptocurrency-based prediction markets, where savvy bettors can profit not just on their predictions but also from fluctuating odds.
Polymarket continues to promote itself as the world’s largest prediction market, attracting global interest as political, financial, and entertainment bets rise in value.
