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Trump Election Odds Near 67% As Polymarket Whale Bets Another $2M
Trump's odds of winning the election surpassed 66.3% on the leading decentralized predictions market on Oct. 28, according to Polymarket data.
Trump's odds increased after a Polymarket whale, or large holder, invested another $2 million worth of USD Coin USDC$1.00 tokens into pro-Trump bets.
The mysterious whale has spent $7.22 million on "Yes" shares, according to onchain intelligence firm Lookonchain, which wrote in an Oct. 28 X post:
"Since Oct 11, the whale has spent 7.22 million $USDC to buy 11.28 million 'Yes' shares on Donald Trump winning the US election, with an unrealized profit of $256,000."
With only seven days until the 2024 US presidential election, decentralized prediction markets may offer more accurate predictions than traditional polling systems, according to billionaire Elon Musk.
The Polymarket odds flipped in Trump's favor on Oct. 4, marking a sharp reversal from September. By Oct. 12, Trump was leading by over 10 points, Cointelegraph reported.
Mysterious Polymarket whale seems unrelated to "Fredi9999"
The mysterious Polymarket whale, known as "zxgngl," holds over 11.2 million "Yes" votes worth over $7.5 million, according to Polymarket data.
The increasing positions come after the top Trump bettor on Polymarket, "Fredi9999," bolstered Trump's odds above 60.2% by buying over $20 million worth of "Yes" shares up to Oct. 18.
Moreover, Fredi's transaction patterns suggest that it controls four of the six largest Trump-voting accounts on Polymarket, all funded with Kraken deposits.