Half a Billion Dollars in Payouts Due Following Trump’s Election Win
Following Donald Trump’s victory in the U.S. presidential election, thousands of online bettors are looking forward to payouts totaling approximately $450 million.
Donald Trump following victorious 2024 US president election. Gamblers win $450 million after betting on Trump victory.
LISTEN TO THIS ARTICLE:However, some may face a delay in receiving their winnings. In the final stretch of the election, online betting sites saw a surge in activity, fueled by the huge difference between Trump’s chances according to prediction markets and polling data, which had shown a tight race.
According to Samuel S.-H. Wang, a neuroscience professor at Princeton University and director of the Electoral Innovation Lab, says prediction markets are of particular interest as they often capture crowd sentiment in ways traditional polls cannot.
Trump’s Win Demonstrates Accuracy of Prediction Markets
Trump’s victory validated the accuracy of prediction markets. Proponents of prediction markets argue that they are better at capturing shifts in sentiment and responding to events that may impact election results in real-time and, as such, are often more accurate than traditional polls.
The election also drove an 8% increase rise in shares for Trump Media and Technology Group (DJT.O). The stock is closely followed by supporters of Donald Trump, many of whom celebrated on the social media platform Rumble during an election night event. Canadian pastor Chad Nedohin led the party while simultaneously monitoring the surges in Trump Media’s financials reaching $159 million by Tuesday evening.
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Polymarket Whale Bet $40M on Trump
Two prominent prediction market platforms, the offshore crypto-based Polymarket and the U.S.-regulated Kalshi, together face payouts of roughly $450 million. Kalshi reported that 28,000 users bet on a victory for Harris, while 40,000 wagered on Trump. On Polymarket, betting continued until major news outlets like the Associated Press, Fox, and NBC declared Trump’s victory. By Tuesday evening, the site’s payouts were estimated at $287 million. Kalshi, which permits betting until Inauguration Day on January 20, 2025, reported a payout pot
The biggest winner on Polymarket appears to be a Paris-based investor known as the “Polymarket whale”, who reportedly placed $40 million in Trump-related bets. If Trump secures the popular vote, this bettor stands to collect an estimated $80 million.
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