The Trump-Betting Whale Speaks Out: ‘I Have Absolutely No Political Agenda’ | Self-described French trader says he bet more than $30 million on U.S. election after analyzing polls

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Théo’s huge wagers on Polymarket—a prediction market that isn’t open to Americans—drew broad attention last month after the Journal reported that four accounts on the platform had been systematically purchasing wagers on a Trump victory. The bets lifted Trump’s odds of beating Vice President Kamala Harris, as shown on Polymarket. Blockchain data showed that the accounts were all funded by the same crypto exchange, fueling debate about the motives of the “Trump whale” behind them.

So the entire prediction market swing is simply about a rich guy tossing huge amounts of money around, and has nothing whatsoever to do with what's actually going on.