A new player in the world of Polymarket trading has quickly risen to the top, making a mark with high-frequency bets on Donald Trump’s potential victory in the 2024 US Presidential Election. Known as “Theo4” on the platform, this trader has wasted no time in amassing over $12 million in bets within just three days.
Operating under the wallet address 0x5668, Theo4 has made strategic moves, focusing primarily on markets predicting Trump’s success. One notable position includes a staggering 7,553,789 shares in “Will Donald Trump win the 2024 US Presidential Election?” purchased at an average price of 58 cents per share. With the current price sitting at 61 cents, this particular bet has already yielded a profit of around $237,158.
But Theo4’s interests extend beyond just Trump’s overall victory. The trader has also placed significant wagers on related markets, such as Trump winning the popular vote and a Republican candidate securing both the popular vote and the presidency. Additionally, bets have been placed on the Republican Party’s success and outcomes in key states.
Despite the substantial trading volume, Theo4 has managed to maintain a profit exceeding $346,000. This rapid accumulation of positions showcases a strong belief in the Republican Party’s performance on Polymarket leading up to the election. The trader’s confidence is evident as they continue to purchase new positions, regardless of the current price.
With this impressive performance, Theo4 has now surpassed PrincessCaro to become the second-largest holder of Trump positions on Polymarket. Throughout October, the top three holders have been actively buying up the order book as Trump’s chances have risen from 50% to 61%.
Overall, Theo4’s swift rise in the world of Polymarket trading serves as a testament to the ever-evolving landscape of online prediction markets. Their strategic bets and confident moves highlight the potential for significant gains in this fast-paced environment. As the 2024 US Presidential Election draws nearer, all eyes will be on traders like Theo4 to see how their bets play out in the political arena.
