A user on the Polymarket platform recently sold almost $4 million in bets related to former US President Donald Trump winning the November 5th elections. The investor had over $15.3 million in trading volume across 24 different markets. The “whale” trader, identified as “larpas,” began closing positions around 4 P.M.
UTC. Most of these bets were related to a Trump win and Vice President Kamala Harris’ loss. As a result, Trump’s odds on the platform fell to 56.2% from 60.6% before recovering to 58% at press time. Arkham Intelligence’s on-chain data revealed that this selling began one minute after trader GCR suggested exiting election-related polls until November 5th, with cautionary remarks about the close outcome of the 2000 US presidential elections.
Galaxy’s data on 17 different election venues showed that Trump’s odds of winning fell in 9 of them, but he still won 14 predictions in proprietary models, prediction markets, and aggregators.
