In recent days, Polymarket had increased its efforts to verify the identity of its biggest users and ensure that they were not Americans. One of them, who bet several tens of millions on pro-Republican bets, turns out to be of French nationality.
Polymarket conducted its investigation into whales, its users who bet large sums in crypto
Polymarket spokespersons recently claimed to have obtained the identity of “Fredi9999”the biggest bettor on the decentralized market prediction platform. This person would have bet almost 45 million dollars by betting on the victory of Donald Trump in the next American presidential elections.
A few days ago, Polymarket had decided to intensify its identity verification procedures. In question, the results of the American elections clearly in favor of Donald Trump on the crypto platform. In fact, the Republican candidate accused up to almost 20 points ahead on his Democratic rival Kamala Harris.
📈 Find out how to use Polymarket and make bets with crypto
Polymarket quickly identified several whales who did not hesitate to bet astronomical sums on a Donald Trump victory nationally or in swing states. For the platform, this was a problem since the results it provides come from the bets made by its users.
Therefore, the site suspected that these users were American even though the platform is illegal in the United States. By betting large sums on pro-Republican positions, these whales were accused of biasing the Polymarket results and therefore influencing the vote of eligible voters scheduled for November 5.
So, the team behind the crypto platform requested more information to the accounts Fredi9999, but also Theo4, PrincessCaro and Michie who all actually belong to one and the same person.
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According to the platform, its biggest bettor would be French
This is how Polymarket discovered that Fredi9999 was not American, but French. Contacted by the platform, the user said that his bets were based on “ a personal feeling about the outcome of the US presidential election ».
Spokespersons for the platform said that they had found no evidence of market manipulation during their investigation. They specify that Freddi9999 agreed not to open additional accounts without notice.
With $2.4 billion in bets placed, the US presidential election market is by far the most active on Polymarket and one that helped create a certain buzz around the platform.
👉 Also read – According to a Bitwise executive, Bitcoin (BTC) could reach $92,000 if Donald Trump wins
To date, on Polymarket, Donald Trump's chances of victory stood at 62% compared to only 38% for Kamala Harris. The former President of the United States would also be ahead in all the swing states, namely the undecided states whose vote will tip the scales for one of the 2 candidates.
These results contrast with those proposed by traditional polls where Donald Trump and Kamala Harris are neck and neck. The Democratic candidate is even announced as the winner by a narrow margin in most of them.
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Source: New York Times
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Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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