New whale makes $12 million high frequency Trump bets on Polymarket in 3 days

Insights Politics

New trader becomes number 2 holder, profits $346,000 on Trump's 2024 odds in rapid Polymarket spree.

A new Polymarket trader, “Theo4,” has executed over $12 million in high-frequency bets on Donald Trump’s chances of winning the 2024 US Presidential Election within three days. Operating under the wallet address 0x5668, Theo4 joined the platform this month and has quickly amassed over $7.1 million in positions.

Polymarket trader profile | Source: Polymarket

Most of their trades focus on markets predicting Trump’s victory, including a position of 7,553,789 shares in “Will Donald Trump win the 2024 US Presidential Election?” purchased at an average price of 58 cents per share. With the current price at 61 cents, this position alone yields a profit of approximately $237,158.

In addition to betting on Trump’s overall victory, Theo4 has placed substantial wagers on related markets, such as Trump winning the popular vote and a Republican candidate securing both the popular vote and the presidency. The trader’s activity also includes markets on the Republican Party’s success and outcomes in key states.

Despite the high trading volume, the trader has maintained a profit exceeding $346,000. The rapid accumulation of positions indicates strong confidence in the Republican Party’s performance on Polymarket in the upcoming election, purchasing new positions regardless of price.

Theo4 has now surpassed PrincessCaro as the second-largest holder of Trump positions on Polymarket. The three top holders have consistently bought up the order book throughout October as Trump’s chance rose from 50% to 61%.