Key Takeaways Shayne Coplan, the CEO of Polymarket, a blockchain-powered prediction market, said the outcome of Tuesday's election was a "vindication" of the platform's predictive power.Nearly $3.7 billion worth of contracts tied to the outcome of the presidential election were traded on Polymarket this year.

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.

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,

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.