Buy pressure on Polymarket has intensified as two whales placed a staggering $4 million in bets on Trump within a span of 24 hours. These high-stake trades, totaling over 1,600 transactions, have significantly impacted the odds, which now stand at 59%.
The top two holders of Trump positions on Polymarket, known as “Fredi9999” and “PrincessCaro,” have been actively trading in support of Donald Trump in the 2024 US Presidential Election market. Fredi9999, who joined the platform in June, has positions valued at over $13 million and has made a profit of $1.3 million. On the other hand, PrincessCaro, who joined in September, has positions valued at over $6 million and has made a profit of $661,798.
Both holders have been using USD Coin (USDC) for their transactions, with PrincessCaro opting for frequent small transactions while Fredi9999 has executed larger trades alongside smaller ones. Together, they have made over 1,600 trades in Trump or Republican-favored markets in the past 24 hours, indicating a significant increase in buy pressure for the former President.
The sudden surge in Trump’s chances of victory on Polymarket, by 9% in the past few days, can be attributed to the continuous high-frequency trading from these two accounts. In comparison, bets for Kamala Harris have not seen a similar level of activity, pointing towards a clear preference for Trump among these traders.
Overall, the influx of high-stake trades and the rapid increase in buy pressure for Trump on Polymarket highlight the growing confidence in his potential victory in the 2024 US Presidential Election. As these whales continue to place bets in favor of Trump, the odds are expected to fluctuate further, reflecting the dynamic nature of political betting markets.
