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French giant whale that bet on Trump's win has made $47.8m profit

French giant whale that bet on Trump's win has made $47.8m profit

Bitget2024/11/07 17:09

According to the Monitor, a $47.8 million profit has been made by the French giant whale who bet on Trump's victory, a French tycoon who worked as a trader at various banks and began using his mathematical expertise to analyse US opinion polls this summer. 
On 3 August, he started taking USDC out of Kraken to place bets on the Polymarket. His bets, he says, are essentially bets on the accuracy of polling data. He argued that the polls overstated Harris's support and failed to account for the ‘shy Trump voter effect’. He explained that Trump supporters either didn't want to tell pollsters they supported the former president or didn't want to participate in polls at all.
He commissioned a large polling agency to conduct the survey using neighbourhood polls and traditional polling methods. Those polls showed that when respondents were asked who their neighbours would vote for, Harris' support dropped by several percentage points compared to direct questioning.
So starting on 2 October, he created three more accounts (Theo4, PrincessCaro, and Michie) and continued to ramp up his bets on Trump.Between 2 October and 5 November, he withdrew a total of 42 million USDC from Kraken to bet that Trump would win the election, ultimately turning a profit of $47.8 million.

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