On Polymarket, the odds of Donald Trump reclaiming the U.S. presidency surged to 13% on Thursday, as a mystery trader, known as Fredi9999, bet heavily on Trump’s victory over Vice President Kamala Harris in next month’s election.
According to Polymarket data, Donald Trump’s odds are at 55.8% right now, while Kamla Harris’ odds stand at 43.7%.
According to data from the decentralized prediction platform Polymarket, Fredi9999 recently increased their holdings, now owning nearly 11 million shares in favor of Trump, up from 7 million earlier this week. This trader has purchased hundreds of thousands of dollars worth of shares in just the last hour, boosting confidence in Trump’s chances.
The wager volume on Polymarket over the Trump-Harris outcome has surpassed $1.6 billion, a significant spike compared to the $11 million wagered during the 2020 presidential election. Earlier in the week, Tesla CEO Elon Musk tweeted that Polymarket was more reliable than traditional polls, which may have contributed to the surge. At that time, Trump’s odds had risen to 51%, edging out Harris’ 48%.
Polymarket also experienced record-breaking trading volume and activity in September, coinciding with a $45 million Series B funding round led by Peter Thiel’s Founders Fund and participation from notable figures like Ethereum co-founder Vitalik Buterin.
