KO sur Polymarket. The recent American elections were an opportunity to explode the platforms of predictive markets. A way of making election betting which is definitely not to the taste of the local authorities. Indeed, the Polymarket platform finds itself targeted by an investigation by the Ministry of Justice in the context of activities considered illegal. At the same time, she tries to resist a post-election collapse of its volumes. A context in which a victorious whale on the Trump bet has just take a right hook from Jake Paul.
- Polymarket has been in the spotlight due to the Justice Department's investigation into its illegal activities.
- Punters, having bet on Donald Trump, reaped colossal gains, but a drop in volumes after the elections was observed.
- The platform had another highlight with a punter losing $3.6 million betting on Mike Tyson vs. Jake Paul.
Polymarket: From Donald Trump to Mike Tyson
If he is indeed a crypto success at the end of the year, there is the unprecedented rise of platforms dedicated to predictive markets. A way of betting on anything and everything which has quickly become one of the stakes of the election of Donald Trump.
Indeed, some bettors positioned on the Republican candidate collected millions of dollars following his election. It must be said that the position “Winner of the 2024 presidential election” alone accounted for more than 3 billion dollars of volume. An absolute record!
And dazzling success almost immediately fell back. Because Polymarket volumes simply collapsed following the American election deadline. With the almost immediately associated specter of a possible ban on French territory.
A drop in activity which in no way prevents punters from continuing their activity in all directions. And the last important date concerned the boxing match between the legend Mike Tyson and the YouTube(ox)eur Jake Paul.
Whale loses $3.6 million on Mike Tyson
The undeniable advantage of Polymarket is its implantation on-chain. Because this allows you to have a total visibility of positions taken by crypto bettors who are fond of this new tool. For example, an account having achieved $11 million in profits on the election of Donald Trump.
A victory which seems to have given him wings. Because he then tried his luck again on the boxing match history between aging legend Mike Tyson and the YouTuber in search of recognition Jake Paul.
A position that can be described as risky, since it is on Mike Tyson's victory that the Polymarket account identified as “zxgngl” placed $3.6 million (11 million shares at an average price of $0.33). This while Jake Paul was already showing 63.5% chance of emerging victorious you call
Visibly, Polymarket's predictions often turn out to be close to reality. Because it's good Jake Paul who won this meeting after 8 rounds. With an open position at the height of $63 million which still gives hope for good days for the predictive markets.
