Headline : 6 Steps to Becoming a Millionaire

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French regulators are eyeing a ban on the crypto betting website Polymarket after an anonymous trader made almost $50 million betting that Donald Trump would win the presidential election.

The “Trump Whale,” a mystery trader who called himself “Thèo” while speaking to The Wall Street Journal, wagered more than $30 million on the election through four anonymous accounts. They described themselves as a wealthy Frenchman who used to work as a trader for several banks, according to The Journal.

Thèo cited a series of September neighbor polls — surveys that ask respondents who they think their neighbor would vote for — which showed that support for Vice President Kamala Harris was lower than when respondents were questioned on who they would vote for. They also commissioned their own surveys using an unnamed major pollster, which showed results that were “mind blowing to the favor of Trump,” The Journal reports.

Although Thèo was successful, Polymarket’s outsized publicity in the 2024 election is drawing scrutiny in France, where online gambling is subject to heavy regulation. In total, users around the world wagered $3.2 billion on whether Trump or Harris would win the election.

Read more from the original article on here at qz.com.

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