Polymarket: the Trump mega-whale, who is a French citizen, has a total of four controllers' accounts, and he did not try to manipulate the market

On October 24, Bloomberg reported that an investigation by prediction marketplace Polymarket confirmed that a trader who spent more than $45 million on Polymarket betting that Trump would win the upcoming U.S. presidential election was a French citizen. They determined that the trader behind the four large accounts also had “extensive trading experience and a background in financial services.” The largest of these accounts was logged in under the username Fredi9999. Previously, cyber sleuths had feared the accounts were being manipulated by the same person in order to boost Trump's odds in favor of his chances of winning.

A Polymarket spokesperson said, “Based on our investigation, we understand that this individual is taking a directional stance based on his personal views on the election. In addition, our investigation to date has not uncovered any information that suggests the user manipulated or attempted to manipulate the market. The user has agreed not to open additional accounts without notice.”

The news comes as Polymarket is conducting a new round of checks to verify that users of its platform reside outside the United States.