Posted on 10/08/2024 5:49:37 AM PDT by dennisw
From Twitter https://x.com/Domahhhh/status/1843320398735106155
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Biggest current user on Polymarket is “Fredi9999” — who is himself a curiosity.
He is by far the largest holder of Trump shares, checking in at 7.2 million shares and counting.
The user has a total of $6.4 million in positions, all of them on Trump. He also has a lot of cash ready to deploy, and brings in new cash on a regular basis.
Couple of curiosities here. One is that this username doesn’t exist on the internet. Seems designed to give the impression its some rando whale flinging cash around. Many such cases. But a lot of whales just make huge bets and move on. This person moves the price slightly and then uses limit orders to try to get as many shares as possible.
Second is an outsized interest in betting on Pennsylvania, where he owns 2.3 million shares of Trump.
Couple of possibilities here with this user: (1) it’s a consortium of folks or (2) it’s someone who is likely worth in excess of $100m given the cavalier bet sizing and endless bankroll.
The current speculation among users is that the account may be affiliated with
@elonmusk
, and while I am not sure how seriously to take that idea — it definitely seems stupid at first — there’s a couple more curiosities. The recent tweets around Trump and Pennsylvania about Polymarket (from his personal stenographer “Doge Designer”) seem to be timed with large purchases by Fredi. Musk rallied with Trump in Pennsylvania, and has connections to Pennsylvania from his college days.
The join date of the account was June 22nd, a few weeks before Elon officially endorsed Trump. BUT June 22nd roughly lines up to when I was told privately by someone in Republican circles that Elon was getting ready to endorse and donate a ton of money to get Trump elected.
Two more things to mention:
-I don’t think this person(s) is trying to manipulate anything. The account seems designed to acquire a very large number of shares. It’s a true believer. As a result of trying to buy that much, the user is going to end up moving the price. But i am not sure moving the price is the point. (I also don’t think the price will have a single impact on the election)
-If it’s not Musk, it is definitely someone very similar to Musk. And someone very similar to Musk is probably a fan of Musk (so could explain the aforementioned bet timings). The user is a fervent and wealthy supporter, crypto & tech savvy, who wants to back up his belief that Trump will win with a lot of money.
https://x.com/Domahhhh/status/1843320398735106155
Polymarket Whale Alert ——
At twitter https://x.com/PolymarketWhale
I am skeptical.
The Polymarket National Election has $1.47 billion in wagers.
The Whale would have to bet $14.7 million just to move the needle 1%.
It does, as it was last to show any Harris lead during her initial surge. But it doesn't matter. People need to remember that Polymarket means nothing as far as election accuracy. It can and is manipulated.
I was entranced by and trusting Poly Market for a Trump victory, until you came along and spoiled it all.
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