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French trader bet over $28 million on Trump election win using 4 Polymarket accounts
CNBC (Business News) ^ | 24 October 2024 | Kevin Breuninger

Posted on 10/24/2024 12:32:29 PM PDT by zeestephen

Polymarket is currently banned for U.S. traders, following a 2022 settlement with the Commodity Futures Trading Commission...But another betting platform, Kalshi, posted new presidential election contracts after a favorable ruling in a federal appeals court in Washington, D.C... Interactive Brokers has also launched a slew of political betting contracts.

(Excerpt) Read more at cnbc.com ...


TOPICS: Chit/Chat
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The current TOTAL wager at Polymarket on the Trump-Kamala Election is $2.4 billion.

It will take one $24 million bet to move the odds 1% at Polymarket.

1 posted on 10/24/2024 12:32:29 PM PDT by zeestephen
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To: zeestephen

The world has gone mad.


2 posted on 10/24/2024 12:39:13 PM PDT by BenLurkin (The above is not a statement of fact. It is either opinion, or satire, or both.)
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To: zeestephen

Yeah..and his payout with be 40-60 odds....so when trump wins he wont double his money.


3 posted on 10/24/2024 1:01:42 PM PDT by suasponte137
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To: zeestephen
It will take one $24 million bet to move the odds 1% at Polymarket.

That's not how any of this works.

4 posted on 10/24/2024 1:10:31 PM PDT by SSS Two
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To: zeestephen

“The Polymarket spokesperson said it believes “that this individual is taking a directional position based on personal views of the election.””

A good reminder that these markets are completely meaningless.


5 posted on 10/24/2024 1:20:48 PM PDT by Kleon
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To: SSS Two
Re: "$2.4 billion total wagers - $24 million bet required to move the odds 1% - That's not how any of this works."

I disagree.

From information posted on the Polymarket website - election odds are determined EXACTLY the same way that horse racing odds are determined.

Polymarket publishes the real time total wagers, and the real time total individual wagers. You can check their math any time you want to.

If that is not correct, please explain what is correct.

6 posted on 10/24/2024 1:52:05 PM PDT by zeestephen (Trump "Lost" By 43,000 Votes - Spread Across Three States - GA, WI, AZ)
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