• Trump’s lead over Harris on Polymarket soared to 13% as a mystery trader ‘Fredi9999’ accumulated millions of shares betting on Trump’s victory
• The total volume on the wager over who will win between Trump and Harris has surpassed $16 billion on Polymarket
• Elon Musk recently stated that Polymarket is more accurate than polls, potentially boosting confidence in Trump’s odds
Donald Trump‘s odds of defeating Kamala Harris in next month’s presidential election have jumped to 13% on blockchain prediction market Polymarket, boosted by a mystery trader making huge bets.
Mystery Trader Bets Millions On Trump
A Polymarket user with the username Fredi9999 has recently purchased millions of shares betting that Trump will beat Harris. Earlier this week, Fredi9999 owned around 7 million shares backing Trump. Now the trader owns nearly 11 million shares, buying hundreds of thousands of dollars worth just in the last hour, according to Polymarket data.
Trump’s Odds Surge After Musk Tweet
At the start of the week, Trump’s lead over Harris was much lower, around 5 percentage points. But after Tesla CEO Elon Musk tweeted that Polymarket was more accurate than polls, Trump’s odds rose to over 13%.
Prediction Market Sees Surge In Volume
The total volume wagered on the Trump vs Harris market has exceeded $16 billion. In 2020, the presidential election only generated around $11 million in bets. Polymarket has seen record highs in volume, traders and markets this year after raising $45 million from investors like Peter Thiel.
Disclaimer
Polymarket lets users bet on the outcome of future events. The Block is an independent news outlet covering crypto and blockchain. While investor Foresight Ventures has a majority stake in The Block, the site continues to operate independently.
