French Bettor Wins $79M Betting on Trump’s Victory, Faces Threat of Polymarket Ban

A French gambler has reportedly earned nearly $79 million by betting on Donald Trump’s presidential win across nine separate accounts on the decentralized betting platform Polymarket. Blockchain analytics firm Chainalysis, which tracks on-chain activities, identified the bettor as having made a substantial profit from wagering on the outcome of the U.S. election, raising questions about market manipulation and drawing attention from French regulators.

According to Chainalysis, the French bettor, operating under multiple aliases including Theo4 and Fredi9999, profited an estimated $78.7 million by placing large bets on Trump's success in the 2024 presidential race. Initially, crypto.news reported that the trader had earned close to $22 million from betting on Trump using just four accounts. However, the full scope of the trader’s activity was revealed in November, when Chainalysis uncovered five additional accounts linked to the same individual, bringing the total profit closer to $79 million.

The sheer scale of these bets raised concerns among analysts about the potential for market manipulation. As one of Polymarket's largest and most active participants, Theo4’s trades attracted scrutiny, though Polymarket has denied any wrongdoing. The platform has insisted that the trader's bets were simply a reflection of personal views and not an attempt to manipulate the market.

Polymarket CEO Shayne Coplan has responded to accusations of political bias, dismissing claims made in a recent New York Times article that the platform was engaging in partisan behavior. Coplan characterized Polymarket as a "neutral" data source, emphasizing that the site was benefiting from the increased interest surrounding election predictions. He denied allegations that the platform was merely "crypto-powered gambling," defending its legitimacy as a prediction market.

Despite Polymarket's defense, the French government has now threatened to ban the platform. The National Gaming Authority (ANJ) is reportedly reviewing Pol