Many people involved in crypto markets had reason to gloat on Wednesday about Donald Trump’s win, but one closely watched French trader’s bets are poised to pay out millions of dollars on the election’s outcome.

France’s gambling regulator is examining the operations of cryptocurrency-based prediction markets platform Polymarket to see if it complies with its rules following a surge in user demand around the US presidential election.

France's gambling regulator said on Thursday it was examining whether Polymarket, the platform where a French trader placed a successful multi-million dollar bet on Donald Trump winning the U.S. presidential election,

A Polymarket French bettor made an astounding $78.7 million profit by betting on Donald Trump’s victory in the US presidential election.

In the weeks leading up to the 2024 presidential election, what appeared to be a small group of traders dumped millions of dollars into Polymarket, betting that Donald Trump would win. It turns out it was just one French whale who had pushed tens of millions of dollars into the market,

The French “whale” who bet $30 million on a Trump White House win via Polymarket has raked in $48 million in profits on the wager, according to the crypto-based betting platform. The anonymous bettor,

The massive gains represent a big swing in profits for the Polymarket bettor, who was sitting on an unrealized loss of $3 million on Monday.

French regulators are eyeing a ban on the crypto betting website Polymarket after an anonymous trader made almost $50 million betting that Donald Trump would win the presidential election.