As Election Day’s results rolled in, Polymarket, the decentralized prediction market, recorded high-stakes wagers on both sides of the U.S. presidential race. While some users saw record profits supporting Trump, others faced significant losses backing Kamala Harris. With over $3.6 billion in total trading volume, this election cycle marked one of the most lucrative and volatile markets in Polymarket. Many were talking about their Trump election bet profits, which grabbed headlines.
High-Stakes Bets and Big Wins
On Polymarket, a few well-placed wagers on Trump’s presidential win led to multi-million-dollar payouts. Notably, one account, “Theo4,” rose to the top of the platform’s leaderboard, generating a profit of $21 million on an initial $19.2 million investment in Trump’s electoral success. Trump’s election bet profits were indeed massive for top traders. However, it wasn’t just a single account involved. Reports indicate that a French trader used multiple accounts to back Trump’s bid, bringing in an estimated $47 million in total winnings across several usernames.
Meanwhile, other prominent Polymarket accounts, like “zxgngl,” saw significant gains, ultimately pocketing $11 million from a Trump position originally valued at $18 million. In particular, these traders demonstrated strong confidence in Trump’s victory, holding onto their bets even as election odds fluctuated throughout the campaign. These bets, known to many, were quite profitable and contributed to the overall Trump election bet profits.
Losses for Harris Supporters
The outcome was less fortunate for Polymarket users who staked their bets on Kamala Harris. Among the top accounts that backed Harris, the account “leier” sustained a loss of $5 million, watching an initial position of $3.9 million shrink to a mere $4,200. Many Harris supporters began selling off their shares as her odds declined, attempting to reclaim some of their investments in the market’s final hours.
Another user, “StarVoting,” unfortunately faced a $3.7 million loss across various markets, holding large positions on both the popular vote and electoral win. Moreover, the stakes were high, with an estimated $100 million in positions betting on a Harris win. However, these wagers ultimately fell short as the results became clear.
A Record-Setting Day on Polymarket
With the final results leaning toward a Trump victory, Election Day became one of Polymarket’s most notable trading days, setting a new record in trading volume. Over $249 million was held in positions related to the presidential race, as the platform solidified its role as a political barometer and a lucrative outlet for speculative investment. Trump’s election bet profits were central to this record-setting day.
Growing Popularity of Decentralized Prediction Markets
Polymarket’s explosive popularity showcases the growing interest in decentralized finance and blockchain-backed platforms for real-world events. By allowing users to speculate on current events, prediction markets like Polymarket offer a unique blend of financial potential and engagement in national conversations. As blockchain-based platforms continue growing, many are watching how the next major political or financial event will impact the market.
Conclusion
The 2024 U.S. presidential election highlighted blockchain-based prediction markets’ potential gains and risks. While some Polymarket users struck gold with Trump bets, others saw significant financial fallout in their support for Harris. The significant profits from Trump election bets exemplify this. As decentralized finance continues to evolve, prediction markets remain at the forefront, demonstrating both the volatility and opportunity that can come with betting on real-world outcomes.