A deep-pocketed investor looking to make tens of millions of dollars from crypto betting platform Polymarket reportedly says he has no political motivation to put his money on Donald Trump to win the upcoming US elections.
According to a new one report by The Wall Street Journal (WSJ), a French citizen calling himself “Theo” who bet more than $30 million on Trump to win the election says his actions are solely for the purpose of making money.
“My intention is to make money… I have absolutely no political agenda.”
Theo describes himself as a financial veteran who noticed that the polls underestimated Trump’s chances of winning in 2016 and 2020 and concluded that if he outperformed again in 2024, he would win.
In a Zoom call with WSJ, Theo accused media outlets aligned with the Democrats of setting the stage for unrest by making it seem like the race would be close rather than being a Trump blowout.
In addition to Trump winning the presidential race, the whale also placed bets on the Republican candidate winning the popular vote and on winning individual swing states such as Pennsylvania, Wisconsin and Michigan.
If Theo wins all his bets, he will earn $80 million.
However, if he fails, he will lose his $30 million stock, which he described as most of his liquid assets, although WSJ said they could not confirm whether he made the bets with his own money or not.
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