The 2024 U.S. Presidential Election has been the greatest driver of capital towards crypto betting platform Polymarket, drawing an absurd $3.2 billion in betting volumes.
Naturally, there are some considerably wealthy players in the space, so how much could they win?
Source | Polymarket
By far, Trump has drawn the wealthiest of crypto backers.
The top “Yes” holder for Trump, “zxgngl” holds a massive 29,473,066 shares. As per Polymarket, it cost $17.9 million to set this position, which stands to yield a profit of just under $12 million. This trader also stands to lose almost $18 million.
Conversely, Trump’s top “No” voter, “markitzero,” carries 3,768,117 shares, which are valued at $1.46 million and have a potential profit of approximately $1.3 million.
Harris’ largest backer, “leier,” is backing the Vice President with 10,871,330 shares. Their position is valued at $4.2 million and could profit over $6 million should Harris win.
The Democratic nominee’s biggest naysayer, “Sake,” has 2,028,536 shares against Harris worth $1.2 million, which could generate over $800,000 in returns.
Team Harris is the underdog on Polymarket, meaning their profit share will be even higher should she take the White House.
Ultimately, this means a Trump loss would be disastrous for backers.
Trump To Win?
After Joe Biden tagged in Harris to take over the race, Trump’s long-dominant position as Polymarket’s favorite to win took a hit, and in early August, Harris overtook her political adviserary by a few percentage points.
Source | Polymarket
The two were trading places through October when, at the end of the month, a sudden and sizeable shift back toward Trump widened that gap between them.
Now, with the ballots open and millions of Americans casting their votes today, Polymarket’s wealthiest bettors may have to wait a few more days before a result is called.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
