The U.S. presidential election contest on Polymarket, a blockchain-based prediction platform, closed with a total trading volume of $3.6 billion. Former President Donald Trump’s win, backed by millions of dollars on the platform, has led to significant profits for some users. The largest profits were made by an account called Theo4, which made $21 million by wagering $19.2 million.
However, the user’s total winnings are higher, as they controlled four accounts with a combined profit of $47 million. A user named zxgngl also made $11 million on a $18 million Trump position. Despite Vice President Kamala Harris’ odds surpassing Trump’s at one point, her election odds dropped to less than 1% on the final day of the race, leading to significant losses for some users.
Overall, Polymarket users betting on a Harris win totaled $100 million, but those positions are now worthless with Trump’s projected re-election.
