Whale Trader Looking for $80,000,000 Gains on Polymarket Says He Has No Political Agenda: Report
A wealthy investor, known as "Theo," is betting over $1 million on Donald Trump to win the upcoming US election through the crypto betting platform Polymarket. He claims his motivations are purely financial, having previously noted that polls underestimated Trump's chances in past elections. Theo has also placed bets on Trump winning the popular vote and key swing states. If successful, he stands to gain $10 million, but risks losing his entire $1 million stake, which constitutes most of his liquid assets.
A deep-pocketed investor who is looking to make tens of millions of dollars from crypto betting platform Polymarket reportedly says that he has no political motivation behind putting his money on Donald Trump to win the upcoming US election.
According to a new report by The Wall Street Journal (WSJ), a French national calling himself “Theo” who is betting over $30 million on Trump to win the election says his moves are designed solely for the purpose of making bank.
Theo describes himself as a financial veteran who observed that polls underestimated Trump’s chances of winning in 2016 and 2020 and concluded that if he outperformed again in 2024, he would win.
In a Zoom call with WSJ, Theo accused media outlets aligned with Democrats of setting the stage up for unrest by making it seem like the race would be close instead of being a Trump blowout.
On top of Trump winning the presidential race, the whale also made bets on the Republican nominee winning the popular vote and on winning individual swing states such as Pennsylvania, Wisconsin and Michigan.
If Theo wins all his bets, he will make $80 million.
However, if he fails, he will lose his $30 million stash, which he described as most of his liquid assets, though WSJ said they could not confirm if he made the bets with his own money or not.
