New Trader Makes Waves in Political Betting Market
A fresh face on the Polymarket trading platform, known as “Theo4,” has swiftly made a name for themselves by executing over $12 million in high-frequency bets focused on Donald Trump’s prospects for the 2024 US Presidential Election within just three days. Joining the platform this month under the wallet address 0x5668, Theo4 has already accumulated more than $7.1 million in trading positions.
Focus on Trump’s Victory
Theo4’s trading strategy primarily revolves around markets that speculate on Trump’s election success. Noteworthy is a significant investment of 7,553,789 shares in the question “Will Donald Trump win the 2024 US Presidential Election?” acquired at an average price of 58 cents per share. With the current market price at 61 cents, this specific investment has already chalked up a profit close to $237,158.
Diverse Betting Interests
Beyond merely betting on Trump’s presidency, Theo4 has also placed considerable stakes in supplementary markets. These encompass bets on Trump winning the popular vote, as well as scenarios where a Republican candidate would clinch both the popular vote and the presidency. The trader’s portfolio showcases diverse interests, including wagers on the success of the Republican Party and outcomes in pivotal states.
Impressive Profit Margin Despite Volume
Impressively, even with substantial trading activity, Theo4 has managed to retain profits exceeding $346,000. This rapid accumulation of trading positions reflects a robust belief in the favorable performance of the Republican Party within the Polymarket platform as the election approaches, as the trader continues to acquire new positions regardless of current prices.
Rising Star Among Market Players
Having recently surpassed PrincessCaro, Theo4 now stands as the second-largest holder of Trump-related positions on Polymarket. The leading three holders have been actively purchasing from the order book throughout October, coinciding with Trump’s probabilities surging from 50% to 61%.
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