It's being manipulated through polymarket betting. Insiders are betting big on Trump to skew the betting. This causes Trump supporters to think Trump is going to win, thus causing buying they are selling into.
But one trader has appeared to be influencing the market by betting millions of dollars on a Trump victory.
As of late Tuesday, the trader, only known as Fredi9999, has purchased more than 15 million shares, valued at $8.7 million, betting that Trump would win the election.
They have also purchased more than 3 million shares betting that Trump would win the popular vote, and nearly 1.5 million shares that Trump would carry Pennsylvania, a crucial battleground state that is viewed as the most likely tipping-point state this cycle. All told, Fredi9999's position is valued at more than $14 million on the platform.
Who this trader may be, as well as why they may be betting so much on the presidential race, remains unknown. Polymarket is a crypto-based prediction market largely out of the reach of U.S. regulators, and its users are anonymous. Fredi9999's profile provides few details about their identity, just that they joined the platform in June 2024. They've been adding to their positions, in roughly $500 bets, as recently as Wednesday morning. |
