Polymarket whale bets on Trump make a lot of money, 86% of users lose money
2024-11-07 22:44:17
Recent us election period forecast market platform polymarket volumedesk3cryptocurrencydesktopCrypto News
During the recent US election campaign, Polymarket, a prediction market platform, saw a surge in trading volumes, approaching $2.50 billion in October and exceeding $1.20 billion in November. While a small number of "giant whale" users made a lot of money betting on Trump's victory, the data shows that 86% of Polymarket users actually lost money. Of about 371,000 user wallets, only 4,004 realized profits of more than $1,000. Some users tried to obtain possible future token airdrops through high-frequency trading, but many ended up losing money. In addition, Polymarket faces a compliance investigation in France and may be banned.
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