A newcomer to Polymarket has invested over $100,000 on the chance that President Donald Trump will acquire Greenland this year.
Unusual Betting Patterns?
The account, ironically titled GamblingRuinsLives, was created on Sunday evening and spent over $53,000 buying “Yes” shares.
They doubled down by throwing an additional $51,200 on the bet on Monday. The punter has wagered a total of $105,000 on the outcome and was down 4.88% on the position.
As of this writing, there was only 22% chance that Trump would seize control of Greenland, a semiautonomous territory within the Kingdom of Denmark.
Further analysis revealed that the trader hasn’t placed any other bets, a pattern that some prediction market observers consider unusual.
On-chain tracking platform Lookonchain voiced suspicion about the trader’s bets, adding, “Does GamblingRuinsLives know something?”
Controversy Surrounding Polymarket’s Bets
The development follows similar moves by another trader who turned a $33,000 bet on Venezuela-related developments into over $400,000. The account was created just before the U.S. launched a military operation to capture Nicolas Maduro and walked away with massive profits.
Sonar Pro, a platform that tracks Polymarket’s top trades, suggested that the trader could be a geopolitical insider.
Polymarket, based on Polygon (CRYPTO: POL), allows users to buy “Yes” and “No” shares in USDC (CRYPTO: USDC) stablecoin. The shares representing the correct outcome are paid out $1 USDC each upon market resolution.
The platform has faced scrutiny for insider trading in the past, most notably during the 2024 presidential elections. The platform accurately predicted Trump’s victory, but concerns about foreign influence and market manipulation dominated headlines.
Photo courtesy: Shutterstock/ noamgalai
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